Last Monad valuation
$6B
Series A · Apr 2024
Last Monad funding round
$225M
Series A · Apr 2024
Cumulative funding Monad raised
$244M
across 2 funding rounds
Key investors in Monad
Dragonfly
Naval Ravikant
Paradigm
Shima Capital
Lemniscap
Placeholder
About Monad
Monad is a high-performance layer 1 blockchain compatible with the Ethereum Virtual Machine while executing transactions in parallel. It processes blocks every second using optimistic parallel execution and asynchronous execution pipelines. Monad supports decentralized applications in DeFi, gaming, and social platforms through its proof-of-stake consensus. Singapore-headquartered since its 2022 inception, the platform integrates with existing Ethereum tooling like MetaMask and Hardhat.
Founded
2022
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Usage-based
Valuation
$6B (Apr 2024)
Monad Valuation
Monad is currently valued at $6B, based on its Series A in April 2024.
The $225M round was led by Paradigm.
Monad valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2024 | Series A | $6B |
Monad Funding History
Monad has raised a total of $244M across 2 funding rounds.
Monad's first fundraising round was a $19M seed round in February 2023. The most recent completed round was a $225M Series A in April 2024.
Monad funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2024 | Series A | Paradigm (lead) | $225M | $6B | Monad Labs develops a high-performance, EVM-compatible layer-1 blockchain designed to process up to 10,000 transactions per second, aiming to surpass Ethereum's throughput while maintaining smart contract compatibility. Founded in February 2022 in New York City by Keone Hon, James, and Eunice, the company focuses on innovations like parallel execution, MonadDB, and optimizations for high-frequency trading use cases, positioning it as a competitor to Solana and Ethereum. In April 2024, Monad Labs announced a $225 million funding round led by Paradigm, with participation from Electric Capital, Greenoaks, Coinbase Ventures, Animoca Ventures, Wintermute Ventures, and others, marking the largest crypto fundraise of the year at that time. This Series A followed a $19 million seed round in February 2023 led by Dragonfly. The funds support acceleration of development, with plans for a testnet soon after and mainnet by year-end 2024. The round valued Monad at $6 billion, as reported in contemporary coverage. With around 30 employees at the time, Monad emphasized its appeal for consumer apps requiring high scalability, such as those with millions of daily active users generating substantial transaction volumes. Monad's approach has garnered strong investor interest amid a crypto market resurgence, though it faces challenges like state bloat and competition from established chains. The project plans a native token launch and targets applications in high-volume sectors like trading exchanges processing hundreds of millions of transactions daily. |
| Feb 2023 | Seed | Dragonfly (lead); Jordan Fish; Placeholder; Finality Capital Partners; Naval Ravikant; Shima Capital; Lemniscap; ox maki | $19M | - | Monad Labs, founded in 2022 by former Jump Trading engineers with experience in low-latency high-frequency trading systems, raised $19 million in a seed funding round on February 14, 2023, led by Dragonfly Capital with participation from over 70 investors including Placeholder Capital, Lemniscap, Shima Capital, Finality Capital Partners, Naval Ravikant, Jordan Fish (ox maki), and others. The funds are intended to develop the Monad Labs ecosystem, double the team from 12 to about 24 members, and advance the high-performance Monad blockchain, an EVM-compatible Layer 1 protocol using Proof-of-Stake consensus designed to process 10,000 transactions per second through parallel and asynchronous execution improvements to address Ethereum's throughput and cost inefficiencies. The platform was in early development, planning a testnet launch in coming months and mainnet later that year, positioning Monad to enable DeFi growth on Ethereum-compatible platforms by rivaling traditional tech and finance performance levels. |
Who has invested in Monad?
9 investors have backed Monad across its funding rounds, including Dragonfly, Naval Ravikant, Paradigm, Shima Capital, Lemniscap and Placeholder.
Lead investors include Paradigm and Dragonfly.
Monad Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Jordan Fish |  London | 1 | Participant | Feb 2023 |
| San Francisco, CA | 1 | Lead | Feb 2023 | |
| New York City, NY | 1 | Participant | Feb 2023 | |
| Los Angeles, CA | 1 | Participant | Feb 2023 | |
| San Francisco, CA | 1 | Participant | Feb 2023 | |
| United States | 1 | Participant | Feb 2023 | |
 George Town | 1 | Participant | Feb 2023 | |
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Start Free TrialInvestments by Monad
Monad has invested in 4 companies to date.
Latest investment by Monad was on November 3rd 2025. Monad invested in Donut in their $15M Seed round.
Latest Investments by Monad
| Description | Donut is an AI-driven crypto browser deploying autonomous agents for on-chain research and trading. The platform indexes DeFi protocols across Solana, Ethereum, and Base networks using specialized LLMs. It automates portfolio analysis, token discovery, and transaction simulations for traders. Donut Browser launched in 2024 with integrations to DEXs like Jupiter and 1inch. | - | - | Particle Network is a software development kit for web3 integration. It allows businesses to incorporate decentralized features using web2 logins like email and social accounts. The SDK bypasses private keys, specialized browsers, and extra installations while maintaining high security. Developers embed blockchain functionalities with few lines of code, supporting expansion into decentralized networks from Singapore-based operations. |
| HQ Country | |  | - |  |
| HQ City | New York City, NY | - | - | Singapore |
| Deal Date | 3 Nov 2025 | 30 Sep 2025 | 27 Oct 2024 | 28 Apr 2022 |
| Round | Seed | Seed | Seed | Pre-seed |
| Raised | $15M | $1M | $2M | $2M |
| Investors | Sui Foundation; Sky9 Capital; Solana Ventures; Altos Ventures; Hack VC; HSG; BITKRAFT Ventures; Makers Fund | CMS Holdings | Yield Guild Games; Solana Foundation; Impossible Finance; CMS Holdings | LongHash Ventures; CyberConnect; Financial Services Capital Partners; Bitcoke; Insignia Ventures Partners |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Monad Competitors
Monad competitors include listed companies like Bullish and BitMine, and private ones like ConsenSys, NYDIG, Tempo and Wealthsimple.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $245B | ($727M) | $5.3B | 13.5x | |
| New York City, NY | Private | $252M | - | $7B | 27.8x | |
| New York City, NY | Private | $100M | - | $7B | 70.0x | |
| San Francisco, CA | Private | - | - | $5B | - | |
 Toronto | Private | - | - | $7.3B | - | |
| United States | Publicly listed | $6M | ($364M) | $14B | 97.4x |
Monad Public Comps
Monad is still privately-owned, but its public comps include Bullish, Galaxy Digital, Hyperliquid Strategies, Sharplink, Securitize, OSL Group, HashKey Holdings, BitGo Holdings, BitMine and Circle.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $245B | ($727M) | 0.0x | 13.5x | (6.3x) | 38.2x | |||
| $60B | ($177M) | 0.1x | 0.2x | (43.3x) | (182.6x) | |||
| $9M | - | 308.0x | 162.2x | - | - | |||
| $28M | ($734M) | 61.9x | 39.9x | (2.4x) | 141.1x | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
| $92M | ($109M) | 6.4x | - | (5.4x) | - | |||
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
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Common questions about Monad
| When was Monad founded? | Monad was founded in 2022. |
| Where is Monad headquartered? | Monad is headquartered in New York City, NY, United States. |
| Is Monad publicly listed? | No, Monad is a private, VC-backed company. |
| What is Monad's valuation? | Monad was last valued at $6B in its Series A in April 2024. |
| How much funding has Monad raised? | Monad has raised $244M across 2 funding rounds. |
| What was Monad's last funding round? | Monad's last funding round was a $225M Series A in April 2024, led by Paradigm. |
| Who are Monad's investors? | Monad's investors include Jordan Fish, Dragonfly, Placeholder, Finality Capital Partners, Naval Ravikant, Shima Capital, Lemniscap, Paradigm and ox maki. |
| Which companies are comparable to Monad? | Companies comparable to Monad include Bullish, ConsenSys, NYDIG, Tempo, Wealthsimple and BitMine. |
| How many companies has Monad invested in? | Monad has invested in 4 companies, including Donut, Drake, LOScoin and Particle Network. |
| What was Monad's last investment? | In November 2025, Monad invested in Donut's $15M seed round alongside Sui Foundation, Sky9 Capital, Solana Ventures and 5 other investors. |
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