Draper Esprit Invests in $380m Series C in Digital Business Ledger
Draper Esprit, a leading venture capital firm investing in and developing high-growth technology businesses, today announces that it has participated in a $380 Series C funding round in Ledger, the leading secure gateway for digital assets, which values the business at over $1.5bn.
Ledger allows investors to access the world of digital assets securely. Ledger’s products include the world’s most popular hardware wallet for cryptocurrency assets, the most user-friendly and secure cryptocurrency management platform, Ledger Live, and the best digital assets security solution for financial institutions, Ledger Enterprise Solutions.
The company already secures an estimated 15% of all cryptocurrency assets globally and is uniquely positioned to capitalise on the growth of digital assets as they become increasingly mainstream. It has sold more than 3 million hardware wallets in 190 countries to date and has more than 1.5 million users on Ledger Live.
With this Series C investment round, Ledger, which is rapidly growing and profitable, will be able to extend its leading position in cryptocurrency security and services to become the secure gateway to the entire digital asset ecosystem. The fundraising will allow Ledger to realize these ambitious plans by further innovating its hardware products, adding new transactional services to Ledger Live such as Decentralized Finance solutions, and significantly expanding its enterprise capabilities. In addition, Ledger will use its new funding to invest in its proprietary Operating System which runs across all of Ledger’s products and services, so that it can support the seamless integration of new third-party services.
Pascal Gauthier, Ledger CEO, said: “This Series C announcement marks the transition of Ledger from the leading digital asset security company to becoming the secure gateway to the entire digital asset ecosystem. This industry is fast becoming mainstream and reshaping the entire financial sector and beyond. Our products are designed to give users maximum control over their digital assets and provide unparalleled protection against cyber-attacks. We are well-positioned to become the secure gateway to the digital asset world with the potential to integrate our services into nearly every feature of the digital asset ecosystem.”
Will Turner, Managing Partner at Draper Esprit, added: “We met Pascal and the team at Ledger many years ago and were excited to lead their Series B round in 2018, and they’ve continued to build impressively since. We’re delighted to continue our support of Ledger with this impressive round. Ledger is at the forefront of a huge growth trend in digital assets and there remains incredible potential for this business in what is a rapidly growing market. Ledger is also a great example of how French tech can take on the world and we see many great companies following their lead.”