Ripple raises $200mm Series C

Today Ripple announced that it raised $200 million in a Series C round led be Tetragon, with participation from SBI Holdings and Route 66 Ventures. The investment values Ripple at $10 billion, making it the most second valuable company in the industry behind Bitmain. The company believes the investment will expedite the company’s ability to onboard new global talent and boost the adoption of its cryptocurrency XRP and the XRP Ledger. With the new round of funding, Ripple has now raised a cumulative $292 million in venture capital since inception.

Why it matters:

• Although Ripple books it’s XRP sales as revenue, between its quarterly XRP sales and venture capital funding, Ripple has now raised over $1.5 billion since it was founded in 2012. Ripple has sold over $1.2 billion worth of XRP since Q4 2016.

• At $10 billion Ripple is the industry's second decacorn behind Bitmain, which due to the bear market is likely worth far less than the $12 billion it was valued at in 2018. Ripple is now tied for the 18th most valuable start-up in the world.