Ripple Labs Finalizing a US$30 Million Funding Round
Ripple Labs, the creator and developer of the Ripple payment protocol and exchange network, will soon be closing a US$30 million Series A funding round.
A spokesperson from Ripple Labs confirmed to WSJ’s Venture Capital Dispatch, it is working on a new financing.
The deal places the San Francisco-based startup at a valuation of about US$100 million, a person familiar with the situation told the media outlet.
The US$30 million Series A round will include Andreessen Horowitz, Google Ventures, IDG Capital Partners, as well as other existing investors.
So far, Ripple Labs had raised US$9 million in 3 rounds, which included two rounds of angel funding and one round of seed funding.
Ripple Labs’ investors include Andreessen Horowitz, the Bitcoin Opportunity Fund, Camp One Ventures, Core Innovation Capital, Google Ventures, IDG Capital Partners, Lightspeed Venture Partners, Venture51, as well as angel investors Bryan Bradford, Ryan Fugger, Jeffrey D. Jacobs, Ram Palaniappan, and Steven Westly.
This post was published at Coin Telegraph on 2015-01-27.