Funding round
Blockstream Series B
Blockstream, which works in blockchain infrastructure development in Cayman Islands, raised $210M in a Series B round announced on 24 Aug 2021, led by Baillie Gifford and iFinex, at a $3.20B post-money valuation. 2 firms took part. It is Blockstream's third venture round on record; the one before was a Series A in Feb 2016.
$210M
Amount raised
$3.20B
Post-money valuation
2
Investors
2 leads
6.6%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Blockstream at $3.20B after the new money. The $210M bought investors about 6.6% of the company. It came 66 months after Blockstream's Series A. It is 73% of the $286M Blockstream has raised in the venture rounds on record. No later venture round is on record for Blockstream.
Blockstream's funding rounds
Blockstream has 3 venture rounds on record and 2 other deals. This one is highlighted.
- Seed 17 Nov 2014, led by Khosla Ventures and Real Ventures $21M
- Series A 3 Feb 2016, led by Horizons Ventures, AXA Strategic Ventures and Digital Garage $55M
- Series B this round 24 Aug 2021, led by Baillie Gifford and iFinex $210M$3.20B post-money
- Debt not a venture round 24 Jan 2023, led by Kingsway Capital $125M
- Debt not a venture round 15 Oct 2024, led by Fulgur Ventures $210M
Investors
Who put money in
Baillie Gifford and iFinex led the round.
Lead investors
- Baillie Gifford new investor
- iFinex new investor
Joined the board: Allen Farrington (Baillie Gifford).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
24 Series B rounds in Cryptocurrency within a year either side disclosed an amount; the median was $50M, and this round was 4.2 times the median. The closest in time, other companies' Series B rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| FTX Cryptocurrency | 20 Jul 2021 | $900M | $18.00B | Paradigm and Ribbit |
| Cryptocurrency | 20 Sep 2021 | $50M | not disclosed | Digital Currency Group |
| Cryptocurrency | 22 Sep 2021 | $40M | not disclosed | DST Global and A&T Capital |
| Cryptocurrency | 6 Oct 2021 | $30M | not disclosed | Jump Capital and Wamda |
| Cryptocurrency | 5 Oct 2021 | undisclosed | not disclosed | not named |
| Celsius Cryptocurrency | 24 Nov 2021 | $750M | $3.25B | WestCap and La Caisse |
| Cryptocurrency | 13 May 2021 | $53M | not disclosed | Cowen Inc. |
| Cryptocurrency | 1 Nov 2021 | $50M | $2.10B | Tribe Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Blockstream raise in its Series B round?
Blockstream raised $210M in its Series B round, announced in Aug 2021.
Who led Blockstream's Series B round?
Baillie Gifford and iFinex led it.
What was Blockstream's valuation at the Series B round?
$3.20B post-money.
How does it compare with other Series B rounds in Cryptocurrency?
24 Series B rounds in Cryptocurrency within a year either side disclosed an amount; the median was $50M, and this round was 4.2 times the median.