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Figment, a provider of staking technologies and infrastructure, has raised $100 million at a post-money valuation of $1.4 billion.

The firm plans to use the funding to increase the number of proof of stake blockchains its technology works with, increase its overall staking participation, increase its software infrastructure and hire additional employees.

The round was led by Chicago-based private equity firm Thoma Bravo, which oversees more than $91 billion of assets under management overall. The backing of Figment represents one of the firm's first Web3 investments. It has a growing crypto venture capital investment arm that has been exploring additional deals in the space. 

Other participants include the venture capital arm of Morgan Stanley, ParaFi Capital, Binance Labs, Bitstamp, CMS Holdings, Two Sigma, Anchorage Digital, BlockFi, True Equity and executive at GoldenTree Asset Management — among others. 

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“We are thrilled to be partnering with the talented Figment team at an exciting point in their growth journey. Figment’s dedication to creating a simplified process for building on the next generation of blockchain technology as well as their entrepreneurial culture sets the company apart and we’re excited to work with them as they usher in the Web 3 future.” said Thoma Bravo Partner Tre Sayle in a statement. 

Figment now supports more than 50 blockchains, with plans to double that number by the end of next year, according to the company. The firm now has more than 130 institutional staking clients, up from 31 around the same time last year. 

The firm continues to hire open positions.