Omni-chain Protocol LayerZero Hits $1B Valuation After Raising $135M

Omni-chain protocol LayerZero has raised $135M in a Series A+ funding round lead by Sequoia, FTX Ventures and Andreessen Horowitz that has driven the company’s valuation to $1 billion, Forbes has learned.

Coinbase Ventures, PayPal Ventures, Tiger Global and Uniswap Labs have also invested in the funding round.

LayerZero Labs closed in September 2021 a $6 million Series A investment round led by Binance Labs and Multicoin Capital.

The aim of the LayerZero protocol is to connect multiple blockchains, thus allowing apps to pass messages between chains. The developers of the project claim that their project has managed to combine the economic efficiency of Polkadot and the security of Cosmos.