Optimism Raises $150 Million in Series B Funding Round Led by Paradigm and A16z

Optimism, an L2 (Layer 2) rollup solution for Ethereum, has raised $150 cardinal successful its Series B backing circular coming from large companies successful the task superior (VC) scene. The backing circular was led by A16z and Paradigm, with the erstwhile besides having invested during the erstwhile backing round. The scaling solution reached a valuation of $1.65 cardinal with this money injection, reaching good supra unicorn status.

Optimism Gets Backing to Keep Growing

Optimism, a solution that allows for transacting connected Ethereum with debased fees, has scored a $150 cardinal concern successful its Series B backing round. The round, that was co-led by A16z and Paradigm, caused the enactment to scope a valuation of $1.65 billion, being 1 of the astir invaluable L2 Ethereum enlargement layers.

VCs are considering the relevance that these scaling technologies person for the aboriginal of Ethereum. While Ethereum fees person been comparatively debased recently, during the caller bull market, this was astir ne'er the case. To appease users not wanting to instrumentality the deed of paying these sometimes exorbitant fees, L2 solutions roseate to the spotlight. Optimism is 1 of these solutions, based connected Optimistic rollups that instrumentality L1 (Layer 1) information to process it successful batches successful L2, to past instrumentality this abbreviated information to Ethereum.

According to numbers offered by the company, Optimism has already saved its users $1 cardinal successful state fees, and has implicit $469 cardinal successful TVL (total worth locked) connected its platform, being the fourth-biggest rollup successful this regard, per L2beat statistics.

Expansion via Hiring and Advancements

Optimism informed users via a blog station astir however the funds would beryllium directed. The institution is readying to prosecute much radical to implicit its already sizeable squad successful bid to support delivering features. Optimism has 18 occupation offerings presently open crossed respective departments, ranging from bundle development-related jobs to concern openings.

This latest backing injection comes connected the heels of the company’s Series A backing round, wherever the institution raised a $25 cardinal concern that was besides led by A16z. The institution praised Optimism, noting that its “close adherence to Ethereum improvement paradigms results successful a precise casual modulation for developers, wallets, and users: nary caller programming languages, minimal codification changes to existing contracts required.”

What bash you deliberation astir the latest $150 cardinal backing circular for Optimism? Tell america successful the comments conception below.

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