Ledger, a hardware wallet maker company, has recently raised around $75 million in an impressive Series B round led by Draper Esprit. Last year, the company had already raised $7 million, but the numbers of the current year are way more impressive. Ledger says that the round was a huge success and that it is the largest Series B round in a cryptocurrency startup when do not count Initial Coin Offerings (ICOs).
There is a good chance that you might have already heard of Ledger wallets. The company is a French start-up that has been creating some of the most secure hardware wallets in the world and it is leading the battle against cryptocurrency hacking.
The Recipe For Hardware Wallet Maker Ledger’s Success
During 2017, Ledger has sold more than a million hardware wallets, an impressive number for such a new technology. The number is even more impressive when you know that Ledger only sold about 30,000 wallets during 2016, meaning that the company sold 33x more last year.
The key to understanding the success of the company is that not many people predicted the cryptocurrency boom that happened last year. Ledger has been struggling to deliver all the orders that it has been receiving. If you buy a Ledger Nano S right now, you are not going to get it before March 2018.
The Future Of Ledger Raising $75 Million In Funding
The main current goal of the company is to use the funding to ramp up production and solve the issue with the delays of the delivery. The company has less than 2 years of existence and it is already very profitable, having more than 82 employees in Paris, San Francisco and Verizon.
In the near future, Ledger intends to launch a new product called the Ledger Vault, which will be a solution for banks, family offices and hedge funds that want to store cryptocurrencies in a business environment.
One could certainly say that the future of Ledger is, indeed, very bright. The company has taken a huge step in front of its competitors in this market and it will probably have a huge profit in 2018.