Funding round
Polymarket Series A
Polymarket, which works in prediction market platform development in New York, raised $25M in a Series A round announced on 1 May 2022, led by General Catalyst. 2 firms took part. It is Polymarket's second venture round on record; the one before was a Seed in Oct 2020.
$25M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Polymarket did not disclose a valuation in this round. It came 19 months after Polymarket's Seed. It is under 1% of the $2.82B Polymarket has raised in the venture rounds on record. Polymarket raised again 24 months later: a Series B round of $45M in May 2024. Its next priced round, a Growth in Jan 2025, valued it at $1.20B.
Polymarket's funding rounds
Polymarket has 7 venture rounds on record. This one is highlighted.
- Seed 1 Oct 2020, led by Polychain $4.0M
- Series A this round 1 May 2022, led by General Catalyst $25M
- Series B 14 May 2024, led by Founders Fund $45M
- Growth 1 Jan 2025, led by Founders Fund $150M$1.20B post-money
- Growth 1 Oct 2025, led by Intercontinental Exchange $1.00B$9.00B post-money
- Growth 1 Mar 2026, led by Intercontinental Exchange $600M$15.00B post-money
- Growth 5 Aug 2026, led by 1789 Capital $1.00B$21.00B post-money
Investors
Who put money in
General Catalyst led the round with 1 other firm.
Lead investor
- General Catalyst backs 574 venture-backed companies
Also in the round
- backs 87 venture-backed companies
Comparable rounds
How it compares
63 Series A rounds in Cryptocurrency within a year either side disclosed an amount; the median was $16M, and this round was 1.5 times the median. The closest in time, other companies' Series A rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 18 May 2022 | $15M | $100M | Dragonfly |
| Cryptocurrency | 16 May 2022 | $10M | not disclosed | not named |
| Cryptocurrency | 3 May 2022 | $10M | $50M | not named |
| Cryptocurrency | 5 Apr 2022 | $45M | $1.50B | not named |
| Cryptocurrency | 26 Jun 2022 | $30M | not disclosed | Eurazeo and Aglaé Ventures |
| Cryptocurrency | 26 Apr 2022 | $23M | not disclosed | Hanwha Asset Management and CaplinFO |
| Cryptocurrency | 27 Apr 2022 | $20M | not disclosed | Founders Fund and Pantera |
| Cryptocurrency | 9 Jun 2022 | $20M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Polymarket raise in its Series A round?
Polymarket raised $25M in its Series A round, announced in May 2022.
Who led Polymarket's Series A round?
General Catalyst led it, with Polychain.
What was Polymarket's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Cryptocurrency?
63 Series A rounds in Cryptocurrency within a year either side disclosed an amount; the median was $16M, and this round was 1.5 times the median.
Did Polymarket raise again after this round?
Yes: a Series B round in May 2024 of $45M.