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- Mysten Labs
Mysten Labs Valuation, Funding & Investors
Mysten Labs is valued at $2B as of September 2022.
Last Mysten Labs valuation
$2B
Series B · Sep 2022
Last Mysten Labs funding round
Strategic investment
Amount undisclosed · Nov 2022
Cumulative funding Mysten Labs raised
$336M
across 3 funding rounds
Key investors in Mysten Labs
Andreessen Horowitz
Alumni Ventures
Lightspeed Venture Partners
Redpoint
Slow Ventures
Coinbase Ventures
About Mysten Labs
Mysten Labs is a privately held blockchain-infrastructure company founded in 2021 by engineers who previously worked on Meta's blockchain initiatives. The Palo Alto company is the original contributor to Sui, a layer-one network designed for high-throughput applications and digital-asset ownership. Mysten develops the Sui implementation, the Move programming environment and supporting tools for secure smart-contract development. Its wider product and protocol portfolio includes Walrus decentralized storage, Seal access-control infrastructure, Enoki application tooling, DeepBook trading infrastructure and consumer wallet software. The company serves software developers, consumer applications, game studios, financial protocols and users of Sui-based services. Mysten combines distributed-systems and cryptography research with product engineering and open-source protocol development. Its commercial opportunities are tied to software, infrastructure and ecosystem services built around the networks and applications it develops.
Founded
2021
HQ
Website
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Services
Valuation
$2B (Sep 2022)
Mysten Labs Valuation
Mysten Labs is currently valued at $2B, based on its Series B in September 2022. Read the announcement ↗
The $300M round was led by FTX, with participation from Kosmos Ventures.
Mysten Labs valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2022 | Series B | $2B |
Mysten Labs Funding History
Mysten Labs has raised a total of $336M across 3 funding rounds.
Mysten Labs' first fundraising round was a $36M Series A in December 2021. The most recent completed round was a strategic investment round in November 2022.
Mysten Labs funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Strategic investment | NoLimit Holdings | - | - | Mysten Labs's financing was disclosed as a strategic investment in NoLimit Holdings' November 29, 2022 Fund I review. NoLimit Holdings is identified as an investor through NoLimit's 2022 release and its current Sui portfolio entry, which links to Mysten Labs. The transaction backed development and adoption of Sui protocol infrastructure and developer products. Mysten Labs builds blockchain infrastructure company and the original contributor to the Sui network, and the financing therefore fits NoLimit's stated focus on blockchain infrastructure and technology-enabled networks. The source set was checked against the supplied database context, which contains no direct NoLimit event for this target on or near the recorded date. The company name and website are normalized to the operating business rather than a token symbol or community label. November 29, 2022 is the dated portfolio disclosure; it establishes that the investment was made during Fund I's first four months after its July launch, but is not represented as the exact closing day. |
| Sep 2022 | Series B | FTX (lead); Kosmos Ventures | $300M | $2B | Mysten Labs is a Web3 infrastructure company and developer of the Sui Layer 1 blockchain, focused on onboarding users to Web3 through scalable blockchain technology. In August/September 2022, it raised $300 million in a Series B funding round led by FTX Ventures, with participation from a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, Lightspeed Venture Partners, Sino Global, Dentsu Ventures, Greenoaks Capital, and O’Leary Ventures, achieving a post-money valuation of over $2 billion. FTX Ventures invested approximately $101-102 million in preferred shares and Sui token warrants as part of this round. The funds were intended to expand the team, accelerate Sui’s mainnet launch, invest in the Sui ecosystem, and grow into the APAC region. This followed a $36 million Series A in December 2021 led by a16z crypto. In March 2023, amid FTX's bankruptcy, Mysten Labs agreed to repurchase FTX Ventures' stake and warrants for $95-96.3 million, nearly recovering FTX's investment. The valuation reflects strong investor interest in Sui's high-performance blockchain amid the crypto market despite subsequent downturns. |
| Dec 2021 | Series A | Andreessen Horowitz (lead); Redpoint; Samsung NEXT; Slow Ventures; Coinbase Ventures; Scribble Ventures; Alumni Ventures; NFX; Lightspeed Venture Partners; Standard Crypto; Electric Capital | $36M | - | Mysten Labs, founded by veterans of Meta's Novi Research division including CEO Evan Cheng and lead architects of the Diem blockchain and Move programming language, raised $36 million in a Series A funding round on December 7, 2021. The round was led by Andreessen Horowitz (a16z) with participation from Lightspeed Venture Partners, Electric Capital, Coinbase Ventures, LUX Capital, Elad Gil, Hack VC, Samsung NEXT, NFX, Standard Crypto, Bienville, Fellows Fund, Slow Ventures, Redpoint Ventures, and others. The company is building Sui, a decentralized proof-of-stake Layer 1 blockchain designed to enable creators and developers across gaming, social media, finance, and other fields to build scalable user experiences. Sui leverages novel data structures and consensus algorithms to enable horizontal scaling of throughput and storage while maintaining extremely low transaction costs. Following the Series A, Mysten Labs subsequently closed a $300 million Series B round led by FTX Ventures at a valuation exceeding $2 billion, with additional participation from a16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, and others. The Series B funding and subsequent development positioned Mysten Labs as a significant Layer 1 blockchain infrastructure player during a period of substantial Web3 investment. |
Who has invested in Mysten Labs?
14 investors have backed Mysten Labs across its funding rounds, including Andreessen Horowitz, Alumni Ventures, Lightspeed Venture Partners, Redpoint, Slow Ventures and Coinbase Ventures.
Lead investors include FTX and Andreessen Horowitz.
Mysten Labs Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Lead | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Sep 2022 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Nov 2022 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Mysten Labs
Mysten Labs has acquired 1 company to date.
Last acquisition by Mysten Labs was on March 7th 2025. Mysten Labs acquired Parasol for undisclosed valuation.
Latest Acquisitions by Mysten Labs
| Description | Parasol is a blockchain development firm building decentralized applications and networks for financial institutions. Operating on Ethereum and Cosmos, it launches custom blockchains with features like zero-knowledge proofs for privacy-preserving transactions, serving banks with parasol.xyz infrastructure. |
| HQ Country | |
| HQ City | San Francisco, CA |
| Deal Date | 7 Mar 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Mysten Labs acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by Mysten Labs
Mysten Labs has invested in 19 companies to date.
Latest investment by Mysten Labs was on October 8th 2026. Mysten Labs invested in Anyflo in their $1M Seed round.
Latest Investments by Mysten Labs
| Description | Anyflo is a payments infrastructure company that provides an API for sending and receiving payments settled over stablecoin rails. The platform consolidates multiple payment rails, liquidity sources and blockchains into one interface, and automates backend tasks such as gas fee management, transaction routing and currency conversion. Businesses use it to disburse funds to suppliers and contractors, accept deposits from verified senders, add stablecoins to checkout, and run scheduled or batch payroll. Target users include retailers and e-commerce sellers, fintechs and neobanks that want white-label or co-branded stablecoin accounts, payroll providers and marketplaces paying sellers across borders. Revenue most likely comes from usage-based fees on processed payments. | Myriad Markets is a decentralized prediction-market protocol for trading short-term outcome-based markets on events in crypto, sports, politics, gaming, and culture. | - | - | |
| HQ Country | - | - | - | ||
| HQ City | - | - | - | - | |
| Deal Date | 8 Oct 2026 | 18 Mar 2026 | 31 Aug 2025 | 1 Aug 2025 | |
| Round | Seed | Seed | Seed | Seed | |
| Raised | $1M | undisclosed | $15M | $20M | |
| Investors | - | Auros; Old Fashion Research; Verda Ventures; Side Door Ventures; Igloo; Everest Ventures Group; MoonPay Ventures; Luca Netz; Wave Digital Assets; Thomas Lee | MH Ventures; io.net; Baseline Emirates; Nesa Capital; Aethir; Selini Capital | Pantera Capital; Mirana; Hashed; Coinbase Ventures; Fabric Ventures; Susquehanna International Group; Variant | |
| Valuation | undisclosed | undisclosed | $250M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Mysten Labs investments and their VC round multiples. Start Free Trial | |||||
Mysten Labs Competitors
Mysten Labs competitors include listed companies like Sharplink and Securitize, and private ones like Boba Network, Blockdaemon, 21.co and Aptos.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.5B | - | ||
| Private | $75M | - | $3.3B | 43.3x | ||
| Private | $100M | - | $2B | - | ||
| Private | - | - | $2B | - | ||
| Publicly listed | $28M | ($734M) | $1.5B | 32.0x | ||
| Publicly listed | $62M | ($34M) | $1.2B | 19.0x |
Mysten Labs Public Comps
Mysten Labs is still privately-owned, but its public comps include Justsystems, C3.ai, Progress Software, Sharplink, Securitize, OSL Group, Qt Group, Hyperliquid Strategies, Galaxy Digital and Horizon Quantum.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $327M | $154M | 3.8x | 3.9x | 8.1x | - | |||
| $250M | ($484M) | 5.0x | 5.3x | (2.6x) | (7.6x) | |||
| $978M | $302M | 3.1x | 2.9x | 9.9x | 7.5x | |||
| $28M | ($734M) | 50.2x | 32.0x | (1.9x) | 96.9x | |||
| $62M | ($34M) | 21.9x | 19.0x | (39.5x) | (302.8x) | |||
| $62M | ($48M) | 15.9x | 10.8x | (20.8x) | (18.1x) | |||
| $242M | $60M | 4.3x | 3.9x | 17.4x | 16.0x | |||
| $9M | - | 309.3x | 116.3x | - | - | |||
This data is available for Pro users. Sign up to see all Mysten Labs competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Mysten Labs
| When was Mysten Labs founded? | Mysten Labs was founded in 2021. |
| Where is Mysten Labs headquartered? | Mysten Labs is headquartered in Palo Alto, CA, United States. |
| Is Mysten Labs publicly listed? | No, Mysten Labs is a private, VC-backed company. |
| What is Mysten Labs' valuation? | Mysten Labs was last valued at $2B in its Series B in September 2022. |
| How much funding has Mysten Labs raised? | Mysten Labs has raised $336M across 3 funding rounds. |
| What was Mysten Labs' last funding round? | Mysten Labs' last funding round was a strategic investment round in November 2022. |
| Who are Mysten Labs' investors? | Mysten Labs' investors include Redpoint, Samsung NEXT, Slow Ventures, Coinbase Ventures, Scribble Ventures, Andreessen Horowitz, Alumni Ventures, Kosmos Ventures, NFX, Lightspeed Venture Partners and 4 others. |
| Which companies are comparable to Mysten Labs? | Companies comparable to Mysten Labs include Boba Network, Blockdaemon, 21.co, Aptos, Sharplink and Securitize. |
| How many companies has Mysten Labs acquired? | Mysten Labs has acquired 1 company, including Parasol. |
| How many companies has Mysten Labs invested in? | Mysten Labs has invested in 19 companies, including Anyflo, Myriad, Everlyn, Subzero Labs, FanTV AI, EarnOS, Shinami and Switchboard. |
| What was Mysten Labs' last investment? | In October 2026, Mysten Labs invested in Anyflo's $1M seed round. |
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