Following the $20 million investment, Ephemera's valuation reaches $300 million, aiming to strengthen secure messaging through the XMTP protocol integrated into Coinbase's Base application.
Ephemera has completed a $20 million Series B financing round led by Union Square Ventures, a16z crypto, and Lightspeed Faction, with participation from Coinbase Ventures and others. This funding values the company at $300 million and supports the integration of the XMTP protocol into Coinbase's Base application, enhancing secure communications in the cryptocurrency sector. The broader network covering XMTP is valued at $750 million, and Ephemera plans to expand its team for the protocol's mainnet launch.