- The startup’s valuation now stands at $1.75 billion.
- The company did not disclose investors in the latest round.
Cryptocurrency custodial service BitGo was able to secure $100 million in investment in its latest funding round, Bloomberg reported.
The firm did not disclose its investors, but said none of them had previously invested in BitGo and all are based in the U.S. and Asia.
The company said its latest round of funding brings its valuation to the $1.75 billion mark.
BitGo CEO Mike Belsh said the new capital is being used in part for strategic acquisitions, with at least two deals already in the works.
As a reminder, the cryptocurrency custodial service suspended its deal to buy Prime Trust in June.
BitGo secures cryptoassets by protecting private keys, sometimes in physical vaults.
The company’s clients include financial institution Swan Bitcoin, blockchain developer Mysten Labs, and Nike.
We previously reported that JKLabs raised a $2 million investment.