New York-based blockchain company ConsenSys is reportedly seeking investors to raise $200 million, technology media outlet The Information reported on April 15. The company’s executives reportedly talked to investors in Hong Kong and South Korea, however as of early April ConsenSys had purportedly not yet found a lead investor.
The Information cited fundraising documents, revealing that ConsenSys closed 2018 with just $21 million in revenue coming mostly from its enterprise consulting business. Per the documents, ConsenSys is planning its revenue to be more than $50 million in 2019, with around $40 million coming from its services business. ConsenSys has reportedly been seeking a valuation of at least $1 billion, which The Information reports is too high, given the company’s revenue and investors.
Last December, anonymous sources stated that ConsenSys could lay off up to 60 percent of its staff as the blockchain space had become more competitive and “crowded.” The company was reportedly spinning out startups it had previously backed, some of them without financial support.