Funding round
Paxos Series B
Paxos, which works in blockchain infrastructure solutions in New York, raised $65M in a Series B round announced on 31 May 2018, led by Liberty City Ventures, RRE Ventures and Jay Jordan. 3 firms took part. It is Paxos' first venture round on record.
$65M
Amount raised
Not disclosed
Post-money valuation
3
Investors
3 leads
Valuation
What this round says about the price
Paxos did not disclose a valuation in this round. It is Paxos' first venture round on record, 6 years after it was founded in 2012. It is 13% of the $507M Paxos has raised in the venture rounds on record. Paxos raised again 31 months later: a Series C round of $142M in Dec 2020. Its next priced round, a Series D in Apr 2021, valued it at $2.40B.
Investors
Who put money in
Liberty City Ventures, RRE Ventures and Jay Jordan led the round.
Lead investors
- Liberty City Ventures new investor
- RRE Ventures new investor
- Jay Jordan new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Series B rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 4 Apr 2018 | $10M | $100M | ZHONGYUNHUI Capital |
| Cryptocurrency | 12 Sep 2018 | $15M | not disclosed | not named |
| Coinmerce Cryptocurrency | 16 Jan 2019 | $40M | not disclosed | Index Ventures |
| Cryptocurrency | 19 Sep 2017 | $9.0M | not disclosed | Balderton Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Paxos raise in its Series B round?
Paxos raised $65M in its Series B round, announced in May 2018.
Who led Paxos' Series B round?
Liberty City Ventures, RRE Ventures and Jay Jordan led it.
What was Paxos' valuation at the Series B round?
It was not disclosed.
Did Paxos raise again after this round?
Yes: a Series C round in Dec 2020 of $142M.