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Figment Raises $2.5 Million in Funding Round

Figment is proud to announce that we have closed a second round of venture funding totaling $2.5 million led by Bonfire Ventures and joined by, FJ Labs, XDL Capital Group, Leminiscap, BKCM, and angel investor Stephan Patnernot. The capital raised will be used to grow our team, scale infrastructure and further develop Figment’s market leading staking infrastructure and developer services.

Looking Back

The past year has been an exciting time at Figment and for the industry in general. We have experienced tremendous growth in institutional staking customers, protocols supported, and developers utilizing our Hubble and Datahub tools. The team’s prior experience successfully building and scaling multiple internet infrastructure companies paved the foundation for us to become one of the top infrastructure and tool providers for networks such as Cosmos, Polkadot, Celo, and Skale.

We now offer institutional-grade staking services on 30+ mainnet blockchains. Our Hubble Web 3 Explorer brings data visibility and increased participation on an additional 9 blockchains. And, our recently announced DataHub service allows developers to easily build on 7 blockchains.

Looking Ahead

Our vision at Figment is to make it simple for token holders and Web 3 application developers to participate in, discover, and build the next great decentralized applications.

Every member of the Figment team is committed to building a decentralized Internet that transforms how we interact and exchange value online. We have a long way to go and a lot to learn to realize this vision. And so we will continue to relentlessly improve our products, serve our customers, and actively participate in over 30 blockchain protocols.

“I have been investing in founders Lorien and Matt for the past 20 years. It was a no-brainer for us to lead this round considering the Founding Team’s decades of experience and Figment’s growth in product, customers, and revenues over the past year. They know what is needed to increase the adoption of blockchain technology and they execute on those needs. We look forward to seeing Figment scale and reach the next generation of Web 3 developers.”

Mark Mullen, Bonfire Ventures Cofounder

We have a vision of a better Internet built on blockchain technology. An Internet where individuals control and profit from their data rather than the large data monopolies and governments. Figment’s tools and services make it easier for our customers to build and use this transformative technology.

Since our launch less than two years ago, we have grown the Figment team to 26 employees (speaking 7 different native languages), built our services on 30+ protocols, and have been good stewards of our investors’ capital by attaining profitability in just our second year of operations.

This new round of capital will enable Figment to continue to invest in our best in class blockchain staking, governance, and developer tools. We are grateful for the continued support from our investors, employees, customers, and the wider blockchain community as we continue this decentralized journey to building a better Internet.

Lorien Gabel, Figment CEO

We are currently living in a pivotal moment in history and it is more important than ever to fight for what you believe in. We are seeing how destructive and influential a corporate controlled and government censored Internet can be. We will continue to be the change we wish to see in this digital world and we are looking forward to a future where complete control is given back to the individual. If you are still on the sidelines, it’s time to get into the game.

Figment: Blockchain Simplified

Figment is Canada’s largest blockchain infrastructure and software provider. Our mission is to make it simple for token holders and developers to use, build and govern blockchains. We do this by providing a comprehensive set of tools & services including our enterprise-grade node and staking infrastructure, the Hubble Web 3 explorer, and DataHub developer APIs. With Figment you can discover and build the next killer blockchain based decentralized application.

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Clayton Menzel

Clayton Menzel

Marketing & Communications Manager @ Figment

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