In brief

  • The Series C funding round was led by Paradigm and Coatue.
  • OpenSea raised $100 million in a Series B round in July 2021.

The leading NFT marketplace OpenSea announced Tuesday it has raised $300 million in a Series C funding round and is now valued at $13.3 billion.

The round was led by venture capital firms Paradigm and Coatue.

KRH, the current holding name for the new fund from former Andreessen Horowitz general partner Katie Haun, also confirmed to Decrypt it participated in the round; a16z participated in both the Series A and Series B, and Haun holds a board seat on OpenSea.

In a blog post announcing the funding, OpenSea co-founder and CEO Devin Finzer said the money would be used to ramp up product development and hire more staff while improving customer support and helping grow the larger NFT and Web3 space. “Our vision is to be the destination for these new open digital economies to thrive,” Finzer said in an emailed statement. “We’ll start this year by lowering the barriers to entry to the NFT space on OpenSea and investing in the ecosystem and the community that powers it.”

 

As recently as July 2020, OpenSea was valued at $1.5 billion after a Series B round that brought in $100 million. In November, The Information reported


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