Talos, a provider of institutional digital asset trading technology, has raised $105 million which values the company at $1.25 billion.
The Series B funding round was led by global growth equity firm General Atlantic with participation from veteran investors in both the traditional finance and digital asset spaces.
New investors including Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW Venture Capital, SCB 10x, Matrix Capital Management, Fin VC and Voyager Digital, Graticule Asset Management Asia (GAMA) and LeadBlock Partners joined the round.
“This funding round represents a major inflection point for the industry. We’ve long heard that ‘the institutions are coming’. The institutions are now here, and we’re extremely proud to be the digital asset trading platform of choice for leading institutions around the world,” said Anton Katz, co-founder and CEO of Talos.
“We believe that the digital assets infrastructure will have a wide-scale impact on the entire financial industry and ultimately, we will see traditional asset classes ultimately migrate to this new technology as well.
“Our investors, which include some of the most storied institutions on Wall St., share this belief and we’re honoured to have their confidence and support.”
Existing investors including Andreessen Horowitz, PayPal Ventures, Castle Island Ventures, Fidelity Investments, Illuminate Financial, Initialized Capital, and Notation Capital also extended their partnerships with Talos through this newest funding round.
The funding comes on the heels of rapid growth for the firm, which has seen institutional trading volume explode over 20x year-over-year. The company intends to leverage this capital to scale and diversify the firm’s industry-leading institutional-grade digital asset platform that powers both buy-side and sell-side firms and seeks to accelerate Talos’s expansion into APAC and Europe.
Additionally, the firm expects to expand its product lines to support the complete, end-to-end trade lifecycle and strengthen its powerful pre and post-trade tools.
“We believe the growth in digital assets is driving existing players and new entrants to seek out institutional-grade solutions,” said Aaron Goldman, MD and co-head of financial services at General Atlantic.
“Talos provides enterprise grade order management, liquidity aggregation, algorithmic execution, reporting and compliance to market participants, which should allow for more efficient operations, better execution and lower total cost of ownership.
“Crypto market structure is still evolving, and Talos’ vision to build a comprehensive toolkit for market participants across CeFi and DeFi positions the company as a competitive disruptor.”