A hardware wallet ledger acquires nearly $400 million in new funding.
The hardware wallet company Ledger raked in $380 million because of Series C funding round. The event is the third largest crypto funding in the history of crypto space.
Ledger Wallet earns solid money
As of now, Ledger boasts a valuation that exceeds $1.5 billion. The latest funding event was led by a wide array of known crypto firms. Before this round, Ledger managed to hold on approximately $8.3 million via Series A event four years ago and an additional $75 million in 2018.
So far, Ledger sold over three million hardware wallets in 200 countries. While its mobile app Ledger Live serves around 1.5 million users.
“What we stand for at Ledger is security first and foremost, but also usability. This is a way of saying that whatever you do with your crypto should be in a secure environment. Ledger is providing you with this experience where you can hold your bitcoin, or you can trade your bitcoin always with some level of security.”
Pascal Gauthier – the CEO of Ledger
The company says that it is planning to launch a new system that will let the customers access many crypto-based applications and decentralized products. So far, Ledger has integrated itself with many digital currency platforms.
Ledger’s Security
The company’s team of white hackers – known as “the Dungeon” – say that one of the problems on Ledger’s list is convincing people that hardware wallets are the way to go instead of mobile wallets. The hardware wallet company insists that hardware wallets are safer. Gauthier says:
“If you ask the Dungeon, there is no such thing as software-only security. When you hold your keys, the only viable security is with secure hardware. You have to sometimes sacrifice a little bit of usability to be really secure because if you lose those keys, this is the end game, and you lose the value.”
In spite of remarks about safety, Ledger’s reputation has a stain last year after a hack on its marketing department. Then, the release of several customers’ private data happen. All of them were victims of several phishing emails. Gauthier says that the Ledger has changed its protocols to delete private customer data so that incidents like this won’t happen again.
The Product is still Uncompromised
He says:
“The security of the product was untouched, but the security of the company overall is something that you can always work on and always invest money into.”
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