LayerZero Labs, the company behind the leading messaging protocol LayerZero, has closed a $120 million Series B fundin round, valuing the company at $3 billion. a16z crypto, BOND, Christie’s, Circle Ventures, OKX Ventures, OpenSea Ventures, Samsung Next, and Sequoia Capital were among the 33 investors who participated in the round.
LayerZero is a messaging protocol that enables interoperability and seamless cross-chain messaging across many blockchains. It provides the necessary infrastructure for decentralized applications (dApps) to run across multiple blockchains. Developers can use LayerZero to create projects that exist across multiple blockchains, eliminating the need for an intermediary to facilitate cross-chain interactions.
The funds from this round will be used to increase LayerZero Labs’ headcount and deepen its presence in the APAC region, as well as to accelerate LayerZero’s continued growth. This expansion will allow LayerZero to solidify its position as the leading messaging protocol while also promoting the global development of the digital asset ecosystem.
LayerZero’s platform has grown at an exponential rate in the first year since its launch. It enabled the relay of over two million messages across 30+ chains, secured over $7 billion in Total Value Locked (TVL), and processed over $6 billion in transactional volume.
LayerZero has deployed over 30,000 contracts on its testnet and 3,500 on its mainnet, with over 10,000 unique applications and hundreds of thousands of unique end users.
LayerZero Labs has received funding from some of the world’s most powerful crypto-focused companies, including Binance, Blockdaemon, Christie’s, Circle Ventures, Coinbase, OpenSea Ventures, and many others. The LayerZero protocol is used by the majority of the world’s largest decentralized exchanges including PancakeSwap, Sushiswap, TraderJoe, and Uniswap.
LayerZero Labs is the company that created the popular blockchain messaging protocol LayerZero. LayerZero’s advanced messaging infrastructure connects over 30 blockchains and enables transparent and secure cross-chain messaging through a single, simple interface. LayerZero developers can create interoperable, omnichain dApps, paving the way for the establishment of a unified digital asset ecosystem.
