StarkWare Reaches $8B Valuation After Raising $100M
StarkWare, a project specializing in second-tier scale-out solutions, has just completed a $100 million Series D funding round that has resulted in the company’s valuation reaching $8 billion.
The round was reportedly led by venture capital firms Greenoaks Capital and Coatue.
Notably, Tiger Global has also participated in the funding round. As part of the deal, StarkWare employees have been given the opportunity to sell their shares.
StarkWare, which was founded back in 2017, offers two products focused on scaling Ethereum, StarkEx and StarkNet. The former is based on the SaaS model and enables decentralized applications to meet “specific needs.” Platforms such as dYdX and Sorare use it.
The second product is a permissionless solution on Ethereum based on Rollup that allows developers to create and deploy their own smart contracts, as well as interact with other applications.