Wormhole Secures $225 Million at a $2.5 Billion Valuation in Funding to Scale Blockchain Communication Network Wormhole raises fundraising round for critical blockchain infrastructure and reveals launch of Wormhole Labs
Cayman Islands
|
November 29, 2023 09:00 AM Eastern Standard Time
Wormhole, the leading developer platform that allows blockchain networks to communicate with each other, has successfully closed its latest funding round, raising $225 million at a $2.5 billion valuation. Prominent investors in Wormhole include Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Crypto, ParaFi, Dialectic, Borderless Capital, Arrington Capital, and more.
“We are grateful to have support from such a strong group of backers as we continue to deliver critical infrastructure for Web3,” said Dan Reecer, Wormhole Foundation Chief Operating Officer. “We are ecstatic to bring more new and groundbreaking products to market as we head into next year, and look forward to continuing to support our ecosystem of developers who are building with our tools every day to expand their businesses and build great experiences for users.
Robinson Burkey, the Wormhole Foundation’s Chief Commercial Officer, echoed this sentiment, saying, “I couldn’t be more excited about our position in the market and the opportunities for growth. We're laser-focused on bringing solutions to market that solve real problems for our customers and end-users, and are on a mission to enable real-world impact from the Web3 space. If you’re interested in this mission, we encourage you to chat with us about joining our team.”
The Wormhole Foundation has also announced the launch of Wormhole Labs, emerging from stealth to become a core contributor to Wormhole. Wormhole Labs is an independent technology company that specializes in building products, tools, and reference implementations that help grow cross-chain activity and development.
"Nearly three years ago, Wormhole was launched with the vision of a world resembling the one we see today. Where the relentless expansion of blockchains is not a niche transient trend but an enduring transformation. Where Fortune 100 companies onboard both public and private blockchains. We reaffirmed our commitment to this vision by launching Wormhole Labs, dedicated to advancing the technology that makes efficient blockchain-to-blockchain communication possible," said Saeed Badreg, Co-founder and CEO of Wormhole Labs
Since its launch in 2021, Wormhole has become mission critical infrastructure for many of the industry’s biggest blockchains and projects. Wormhole has facilitated the transfer of over $35 billion in value and regularly processes over 2 million cross-chain messages across 30+ chains every day.
For more information about the Wormhole and its innovative solutions, visit www.wormhole.com.
“
About Wormhole
Wormhole presents a cutting-edge platform for developers, enabling the creation of scalable and efficient decentralized applications. At the heart of its infrastructure lies a messaging protocol, a feature that facilitates secure and seamless value and data transfers across an extensive network of over 30 major blockchains and hundreds of applications. In the three years since its inception, Wormhole has facilitated over $35 billion in transfer volume, processed over 750 million cross-chain messages, and achieved a peak total value locked (TVL) of around $3.8 billion. Wormhole is used in a variety of use cases ranging from token bridging for chains like Ethereum and Solana, to cross-chain oracle data feeds, to NFT transfers, and more. Wormhole is strategically expanding its reach, serving not just decentralized developers but also catering to institutional needs, positioning itself as the leading blockchain communication network in the digital asset industry.
About Wormhole Foundation
Wormhole Foundation is the steward of Wormhole - the world’s first generalized messaging protocol. Our mission is to empower passionate people in the research and development of blockchain interoperability technologies. Through grants, research, and ecosystem programs, we seek to enable teams to build secure, open-source, and decentralized products within the Wormhole ecosystem. If you’re interested in helping achieve our mission, contact us at hello@wormhole.foundation.
Contact Details
Wahaj Khan
Company Website
