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Coinbase raises $100M Series D led by IVP

By Brian Armstrong


, August 10, 2017

, 2 min read time

We are excited to announce that Coinbase has raised $100 million in Series D funding. This represents a major milestone for our mission to create an open financial system for the world. The round was led by IVP, with participation from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.Coinbase experienced unprecedented growth over the last year, and we have now exchanged over $25 billion USD of digital currency for our customers. We’ll be using this new funding to continue scaling even further. Specifically, we will:

  1. Increase the size of our engineering and customer support teams to improve the customer experience.

  2. Open a GDAX office in New York City, further investing in our ability to serve institutions and professional traders.

  3. Invest in Toshi, to help accelerate digital currency’s shift from speculative investment to global payment network.

We’re fortunate to be working with IVP, one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 106 of which have gone public. Notable IVP investments include companies such as Dropbox, Netflix, Twitter, Slack, and Snap.Coinbase was founded in 2012 and has grown to become one the world’s leading digital currency companies with support for Bitcoin, Ethereum and Litecoin in 32 countries. Today it is a portfolio of three products:

  1. Coinbase — the most popular retail exchange for digital currency

  2. GDAX — the most popular exchange for institutions and professional traders in the U.S.

  3. Toshi — a browser for the Ethereum network

Digital currencies are having their “Netscape” moment. The pace of innovation has been accelerating and we are now seeing exciting projects and companies being built on top of digital currencies. We’re beginning to transition into phase three of our secret master plan.If this mission excites you, we’re looking to fill many new roles. Send us a note!You can sign up for Coinbase and Toshi to start using digital currency today.Finally, if you’re an institution or professional trader, you can sign up for GDAX.

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Brian Armstrong

About Brian Armstrong

Brian Armstrong is the Chief Executive Officer and Co-founder of Coinbase. As CEO, Brian is responsible for Coinbase’s consumer and institutional arms, which offer an entire suite of products that make accessing cryptocurrencies easy and secure, in addition to new products that operate at the frontiers of crypto and blockchain. Before co-founding Coinbase, Brian worked as a Software Engineer at Airbnb. He holds three degrees from Rice University: Bachelor’s of Computer Science, Bachelor’s of Economics, and a Master’s of Computer Science.