Talos Revenue, Valuation, Funding & Investors

Talos is valued at $1.5B as of January 2026. Talos revenue was $27M, as disclosed with its May 2022 round.

See full Talos profile

Last Talos valuation

$1.5B

Series B · Jan 2026

Last Talos funding round

$45M

Series B · Jan 2026

Talos revenue

$27M

Series B · May 2022

Key investors in Talos

  • Andreessen Horowitz
  • Fidelity
  • General Atlantic
  • Initialized Capital
  • Sony Innovation Fund
  • a16z Frontier

Talos Overview

About Talos

Talos is a New York-based institutional trading infrastructure provider for cryptocurrencies, facilitating execution, custody, and settlement across 300 assets. Founded in 2018, the platform connects exchanges, market makers, and hedge funds via low-latency APIs and smart order routing. Talos powers liquidity for firms like Galaxy Digital and supports OTC desks with prime brokerage services.


Founded

2018

HQ

United StatesNew York City, NY

Website

talos.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$27M (May 2022)

Valuation

$1.5B (Jan 2026)

Talos Valuation

Talos is currently valued at $1.5B, based on its Series B in January 2026.

The $45M round included BNY Mellon, a16z Frontier, Karatage, Fidelity, IMC Trading and 3 other investors.

Talos' valuation has grown 1.2x from $1.3B at its Series B in May 2022 to $1.5B in January 2026, across 2 priced rounds.

Talos valuation by funding round

Revenue multiple
Talos valuation by funding round
DateStageValuationRevenue Multiple
Jan 2026Series B$1.5B-
May 2022Series B$1.3B46.0x

Talos Revenue

Talos' latest recorded revenue is $27M, as of its Series B in May 2022. At a $1.3B valuation, that implies a 46.0x revenue multiple.

Talos revenue by funding round

Talos revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
May 2022$27M$1.3B46.0xSeries B

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Talos Funding History

Talos has raised a total of $190M across 3 funding rounds.

Talos' first fundraising round was a $40M Series A in May 2021. The most recent completed round was a $45M Series B in January 2026.

Talos funding rounds

Talos funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2026Series BBNY Mellon; a16z Frontier; Karatage; Fidelity; IMC Trading; QCP; Sony Innovation Fund; Robinhood$45M$1.5BTalos, a New York-based provider of institutional digital asset infrastructure, offers technology for trading, portfolio management, risk management, execution, settlement, and data analytics across crypto markets and integrating with traditional finance systems. Founded in 2018 by Anton Katz and Ethan Feldman, the company supports banks, brokerages, funds, trading firms, and OTC desks in 31 countries, having facilitated $727 billion in trading volume since inception. On January 29, 2026, Talos announced a $45 million Series B extension, bringing total Series B funding to $150 million from an initial $105 million raised in May 2022 at a $1.25 billion valuation. This round elevated the post-money valuation to approximately $1.5 billion, a 20% increase, with new strategic investors including Robinhood Markets, Sony Innovation Fund, IMC Trading, QCP, and Karatage joining existing backers a16z crypto, BNY Mellon, and Fidelity Investments. A portion of the investment was settled using stablecoins, highlighting blockchain adoption in institutional payments. Proceeds will expand Talos's product suite, focusing on portfolio construction, risk management, treasury, settlement tools, and support for traditional assets migrating to digital formats. Recent momentum includes roughly doubling revenues and client base annually for the past two years, launch of an RFQ platform integrated with BlackRock's Aladdin, and acquisitions of Coin Metrics (data analytics), Cloudwall, Skolem, and D3X Systems (enhancing DeFi, risk, and portfolio capabilities). Most new investors are existing clients, underscoring Talos's role bridging traditional finance and digital assets.
May 2022Series BGeneral Atlantic (lead)$105M$1.3BTalos, a New York-based provider of institutional digital asset trading and post-trade technology, raised $105 million in a Series B round announced on May 10, 2022. General Atlantic led the round, which valued the company at $1.25 billion. The funding was intended to support product development and the expansion of its platform for institutional adoption of digital assets. Talos offers connectivity, liquidity aggregation, execution and portfolio management tools to banks, hedge funds, brokers and other institutions trading crypto. The company had previously raised earlier venture rounds, and the Series B made it a unicorn within roughly four years of its founding in 2018.
May 2021Series AAndreessen Horowitz (lead); Galaxy Digital; Castle Island Ventures; Initialized Capital; Borromin; Notation Capital; Autonomous Partners; Illuminate Financial; Elefund$40M-Talos is a provider of institutional digital asset infrastructure and trade lifecycle management solutions for digital asset institutions, enabling buy-side firms, prime brokers, and lenders to operate trading desks via APIs or web interfaces. Founded in 2018, the company serves banks, brokerages, funds, trading firms and OTC desks across 31 countries and has supported $727 billion in trading volume since inception. The company raised $40 million in its Series A funding round in May 2021 from lead investors Andreessen Horowitz, Fidelity Investments, Galaxy, Elefund, Castle Island Ventures, Notation, Illuminate Financial, Initialized Capital, PayPal Ventures, Autonomous Partners, and Steadfast Capital Ventures. The Series A proceeds were intended to build institutional-grade infrastructure and expand platform capabilities for digital-asset trading. Talos subsequently raised $105 million in Series B in May 2022 at a $1.25 billion post-money valuation, and later extended its Series B round by $45 million in February 2026, bringing total Series B funding to $150 million at a $1.5 billion valuation.

Who has invested in Talos?

18 investors have backed Talos across its funding rounds, including Andreessen Horowitz, Fidelity, General Atlantic, Initialized Capital, Sony Innovation Fund and a16z Frontier.

Lead investors include General Atlantic and Andreessen Horowitz.


Talos Investors

Investors in Talos by funding rounds participated
InvestorHQRoundsRoleFirst check
Galaxy DigitalUnited StatesNew York City, NY1ParticipantMay 2021
BNY MellonUnited StatesNew York City, NY1ParticipantJan 2026
a16z FrontierUnited StatesSan Francisco, CA1ParticipantJan 2026
KaratageUnited KingdomLondon1ParticipantJan 2026
FidelityUnited StatesBoston, MA1ParticipantJan 2026
IMC TradingNetherlandsAmsterdam1ParticipantJan 2026
Castle Island VenturesUnited StatesUnited States1ParticipantMay 2021
Initialized CapitalUnited StatesSan Francisco, CA1ParticipantMay 2021
BorrominGermanyFrankfurt1ParticipantMay 2021
Notation CapitalUnited StatesNew York City, NY1ParticipantMay 2021
Andreessen HorowitzUnited StatesSan Francisco, CA1LeadMay 2021
General AtlanticUnited StatesNew York City, NY1LeadMay 2022
Autonomous PartnersUnited StatesSan Francisco, CA1ParticipantMay 2021

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Acquisitions by Talos

Talos has acquired 4 companies to date.

Last acquisition by Talos was on July 16th 2025. Talos acquired Coin Metrics for $100M.


Latest Acquisitions by Talos

Coin Metrics
Skolem Technologies
Cloudwall Capital
D3X Systems
Description
Coin Metrics is a New York-headquartered provider of blockchain network data, market metrics, and risk analytics for institutional investors. The firm publishes daily on-chain reports for Bitcoin, Ethereum, and over 200 assets, alongside proprietary indexes like Reference Rates tracked by CME Group. Coin Metrics supplies APIs to hedge funds and exchanges, including Chainalysis for transaction monitoring.
Skolem Technologies is a fintech platform that integrates institutional investors into decentralized finance ecosystems via a single access point for trading, yield farming, staking, and liquidity provisioning. Its execution technology supports direct participation in DeFi markets like Uniswap and Aave without expanding technical teams or elevating portfolio risks. Designed for reliability amid market volatility, the platform processes complex trades across multiple blockchains including Ethereum and Polygon. Headquartered in the United States, Skolem serves hedge funds and asset managers seeking efficient DeFi exposure.
Cloudwall Capital is a New York-based investment firm focused on digital assets for institutional clients. The team manages portfolios emphasizing cryptocurrencies, blockchain infrastructure, and decentralized finance protocols through quantitative research and risk-adjusted strategies. Cloudwall Capital advises hedge funds and family offices on market navigation, providing exposure to assets like Bitcoin, Ethereum, and layer-2 scaling solutions. Established in 2021, the firm operates from offices in the United States and Europe, leveraging proprietary analytics to optimize returns amid volatile crypto markets.
D3X Systems is a developer of technology platforms for systematic investment strategies. The company builds execution engines and risk management tools for quantitative hedge funds. Headquartered in Zug, Switzerland, D3X Systems processes billions in daily trading volume across equities, forex, and derivatives markets.
HQ CountryUnited StatesUnited StatesUnited StatesUnited States
HQ City
Boston, MA
New York City, NY
New York City, NY
Washington, DC
Deal Date16 Jul 202530 May 202423 Apr 20249 May 2023
Valuation$100Mundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Talos Competitors

Talos competitors include listed companies like Sharplink and Securitize, and private ones like Matrixport, TRM Labs, Flashbots and Gauntlet.

Public and private companies comparable to Talos
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MatrixportSingaporeSingaporePrivate--$1.5B-
TRM LabsUnited StatesSan Francisco, CAPrivate--$2B-
FlashbotsUnited StatesUnited StatesPrivate--$1B-
GauntletUnited StatesNew York City, NYPrivate--$1B-
SharplinkUnited StatesUnited StatesPublicly listed$28M($734M)$1.5B32.0x
SecuritizeUnited StatesUnited StatesPublicly listed$62M($34M)$1.2B19.0x

Talos Public Comps

Talos is still privately-owned, but its public comps include National Securities Depository, Sharplink, Securitize, OSL Group, Chaince Digital, Stewards, Rhino Bitcoin, HashKey Holdings, Shanghai DZH and Servyou Software Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
National Securities Depository$161M$48M8.2x7.2x27.6x-
Sharplink$28M($734M)50.2x32.0x(1.9x)96.9x
Securitize$62M($34M)21.9x19.0x(39.5x)(302.8x)
OSL Group$62M($48M)15.9x10.8x(20.8x)(18.1x)
Chaince Digital$2M($3M)373.0x-(244.4x)-
Stewards------
Rhino Bitcoin$478K($417K)1380.9x-(1581.6x)-
HashKey Holdings$92M($109M)3.8x-(3.2x)-

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Common questions about Talos

When was Talos founded?Talos was founded in 2018.
Where is Talos headquartered?Talos is headquartered in New York City, NY, United States.
Is Talos publicly listed?No, Talos is a private, VC-backed company.
What is Talos' valuation?Talos was last valued at $1.5B in its Series B in January 2026.
How much funding has Talos raised?Talos has raised $190M across 3 funding rounds.
What was Talos' last funding round?Talos' last funding round was a $45M Series B in January 2026.
Who are Talos' investors?Talos' investors include Galaxy Digital, BNY Mellon, a16z Frontier, Karatage, Fidelity, IMC Trading, Castle Island Ventures, Initialized Capital, Borromin, Notation Capital and 8 others.
What is Talos' revenue?Talos' latest recorded revenue is $27M (May 2022).
What is Talos' revenue multiple?Talos' latest valuation implies a 46.0x revenue multiple ($1.3B valuation on $27M of revenue).
Which companies are comparable to Talos?Companies comparable to Talos include Matrixport, TRM Labs, Flashbots, Gauntlet, Sharplink and Securitize.
How many companies has Talos acquired?Talos has acquired 4 companies, including Coin Metrics, Skolem Technologies, Cloudwall Capital and D3X Systems.
What was the largest acquisition by Talos?The $100M acquisition of Coin Metrics in July 2025 is the largest acquisition Talos has made to date.

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