Cryptocurrency exchange Coinbase raises $100M

posted 4 months ago
Coinbase has raised $100 million in Series D funding. The round was led by IVP, with participation from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.

Coinbase experienced unprecedented growth over the last year, company exchanged over $25 billion USD of digital currency for their customers. Coinbase will be using this new funding to continue scaling even further. Specifically company will:

1. Increase the size of engineering and customer support teams to improve the customer experience.
2. Open a GDAX office in New York City, further investing in company's ability to serve institutions and professional traders.
3. Invest in Toshi, to help accelerate digital currency’s shift from speculative investment to global payment network.

Coinbase was founded in 2012 and has grown to become one the world’s leading digital currency companies with support for Bitcoin, Ethereum and Litecoin in 32 countries.

Today it is a portfolio of three products:

-Coinbase — a retail exchange for digital currency
-GDAX — an exchange for institutions and professional traders in the U.S.
-Toshi — a browser for the Ethereum network.
Tags: blockchain, bitcoin, news