Coinbase Raises $100 Million In The Biggest-Ever Round For Bitcoin Startup

Coinbase CEO Brian Armstrong

Coinbase has raised $100 million in Series D funding. Announced yesterday, the round was led by Institutional Venture Partners (IVP), a Silicon Valley venture firm that counts some of the biggest tech and digital startups, including Dropbox, GitHub and Netflix, among its portfolio. Also participating are Battery Ventures, Draper Associates, Greylock Partners, Section 32 and Spark Capital.

The round's completion raises Coinbase's collective funding to date to more than $217 million, higher than any other industry firm that has raised money from accredited investors. In statements, Coinbase said that it would use the funds to expand its customer support and engineering teams. According to Business Insider UK, the cryptocurrency exchange now boasts a $1.6 billion valuation.

Read more here: http://uk.businessinsider.com/coinbase-now-unicorn-valuation-series-d-funding-2017-8?international=true&r=UK&IR=T