Coinbase Raises $100m in Largest-Ever VC Funding Round for Bitcoin Startup

In the single largest venture-capital fundraising by a bitcoin-related startup to date, digital currency exchange Coinbase has today closed a giant $100 million investment from several investors including a US-based VC firm that previously invested in Dropbox, Netflix, Twitter, Slack and Snap.

In a statement, Coinbase said funding for this round was led by IVP, the venture capital firm that invested in more than 300 companies, including more than 100 that have gone public. Also participating were new investors including Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.

Funding will help Coinbase expand

The funding will help Coinbase expand its services to international markets and pay for regulatory costs. It also makes the bitcoin platform the most well-capitalized cryptocurrency company, with more than $200 million in total funding and a post-money valuation of $1.6 billion, nearly triple their rumored valuation in 2015.

This round also makes Coinbase part of what is called a “unicorn” club in the venture capital industry, a company with a valuation greater than $1 billion. It previously raised $117 million over five rounds from a number of high-profile investors including the New York Stock Exchange, USAA Bank, and Spanish banking group BBVA.

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