Genies Reaches $1B Valuation Following Series C Funding Round

Genies Reaches $1B Valuation Following Series C Funding Round

Genies, a non-fungible token (NFT) startup, continues to attract funding from investors after securing $150 million in Series C funding at a valuation of $1 billion. This makes it the latest crypto-focused platform to reach “unicorn” status.

The startup’s funding round was led by Silver Lake, a California-based private equity firm which as of 2021 has a total of $88 million in assets under management. The funding round also saw funding come in from existing investors, namely Tamarack Global, BOND, and NEA.

According to Genies, the funding will be used to increase internal capacity within its engineering department, and will also use the funding to invest in new technologies.

Resource: CoinQuora