Leading NFT Marketplace Opensea Raises $300 Million, Firm's Post-Money Valuation Taps $13.3 Billion

Opensea Raises $300 Million and Commands a $13.3 Billion Post-Money Valuation

In a story published in mid-November by theinformation.com's Kate Clark and Berber Jin, it was revealed that Opensea was accepting additional contributions after investors were supposedly clamoring to back the project. Opensea was valued at $10 billion at the time, according to two individuals, and "investors are screaming for a piece of the business."

Opensea said 48 days later that it had received $300 million in a Series C financing transaction. The extra funds will be used to "accelerate product development," "substantially increase customer service," "invest in the larger NFT and Web3 community," and grow the Opensea team, according to the team. Paradigm and Coatue led the investment round, which included a number of other key investors.