Coinbase becomes first cryptocurrency unicorn

Financial Services | San Francisco, CA | Late Stage

Coinbase has closed a $100 million Series D at a $1.6 billion valuation, per TechCrunch, giving it entry into the unicorn class of 2017. The funding was led by IVP. Coinbase, a digital asset exchange platform for bitcoin and other digital currency transactions, will use the cash in part to open an office in New York and invest in fintech startup Toshi, which provides a browser for the ethereum network. Coinbase was founded in 2012 and has previously raised about $120 million.

Investors

IVP (lead), Spark Capital, Greylock Partners, Battery Ventures, Section 32, Draper Associates

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