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Ripple Attains $10 Billion Valuation after $200 Million Series C

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ripple

Series C

Just yesterday, Ripple announced the successful completion of their Series C raise.  This capital generation event led to the blockchain company bringing in a total of $200 million in investments from various companies.

Valuation

By raising $200 million in this round, Ripple sees their current valuation sitting at, roughly, $10 billion.  This makes the company one of the most valuable to be involved in blockchain.

As companies continue to become increasingly invested in the Ripple, the likelihood of them failing lowers as a result.  This is because they are now able to leverage the capabilities of their strategic partners, as well as have the funds for quicker development of services, in addition to a much longer runway.

As these companies become so large, they can often ensure a successful product through sheer will alone.  While Ripple may not be there yet, they are on their way.

Participating Parties

This round, in particular, was led by a trio of companies with known interest in blockchain based endeavours.

  • Tetragon
    • U.S. based investment company with a net-asset-value (NAV) of $2.3 billion
  • SBI Holdings
    • A Japanese investment firm with ties to Securitize, Ripple, Boerse Stuttgart, and more
  • Route 66 Ventures
    • U.S. based private investment firm geared towards growth stage start-ups involved with FinTech and FinServ

No Fear

The announcement of this successful round of funding comes irrespective of the on-going legal woes which have enveloped Ripple’s future in uncertainty.

In an on-going case involving the SEC, there has been no decision on whether Ripple acted as an unlicensed broker in selling/distributing XRP as a security.

While the company, technically, remains independent of the open-source XRP, they control such a high percentage of the cryptocurrency, that it remains quite centralized.  This centralization results in the ability for Ripple to greatly influence events and markets surrounding XRP.

Investors, however, have shown no fear of the potential negative outcomes which may come from the situation – as made evident by this most recent round.

State of Affairs

As it currently stands, Ripple is soon due in court in an attempt to see the case against them dismissed.  The company has, notably, taken an interesting approach to the case, as their defense isn’t focused on whether they acted as an unlicensed broker.  Rather, they indicate that this is a moot point, as the allegations were levied far too late on the part of the plaintiff.

Commentary

As the world of blockchain continually comes in to focus, there has been an obvious ‘trimming of the fat’ among participating companies.  The reality is that the vast majority of the companies involved are fighting to become the ‘last man standing’ in a competitive pool of participants.  Ripple CEO, Brad Garlinghouse, took the time to comment, touching on that exact sentiment, and how this has benefited Ripple.

“We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.”

Ripple

Operating out of San Francisco, Ripple is a blockchain based software company, which was founded in 2012.  The company has established itself as a leader within blockchain, through the development of its RippleNet platform, and vision for the future of payments.

CEO, Brad Garlinghouse, currently oversees company operations.

In Other News

For those that follow Ripple, and their on-going legal woes, it may feel as though it is a never ending saga.  More than a year ago, we were already reporting on the situation, as over 100 individuals at the time sued the outfit for $160 million in damages.  The following article looked at this situation, and the distinction needed to be made between Ripple and XRP.

Ripple files ‘Notice of Removal’

Joshua Stoner is a multi-faceted working professional. He has a great interest in the revolutionary 'blockchain' technology. In addition to this, he is a licenced Paramedic in Nova Scotia, Canada. As such, he can provide emergency care/medicine to any situation necessitating it.

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