Raven’s valuation jumps nearly 4x to $90m on new funding round

Raven, a liquidity provider for Kalshi & Polymarket, expands beyond crypto into prediction markets.

The hit

Coinbase Ventures & CMCC Global have backed a new funding round for Raven, according to Crypto Briefing. Raven provides institutional market-making for prediction platforms including Kalshi & Polymarket. CMCC co-founder Charlie Morris has joined Raven’s board.

Why it matters

Raven’s strategies are designed to maintain tight spreads & deep liquidity, according to Crypto Briefing, positioning it between crypto market infrastructure & the growing prediction-market sector. Coinbase Ventures’ involvement is notable given Coinbase is separately building its own prediction-market product.

The record

New valuation	$90m pre-money (Crypto Briefing)
Seed valuation	$25m, via $2.7m round led by Hack VC
Valuation jump	nearly 4x since seed round
Founded	January 2023, by ex-Wintermute traders Petar Kostov, Yuriy Myronovych & Ivaylo Kirilov
Reach	liquidity provider across more than 30 trading venues

What happens next

Watch for details of Raven’s expanded institutional push, & whether Coinbase’s own prediction-market plans complicate its ties to the firm.

Sources: Coinbase Ventures, CMCC Global back Raven’s $90M prediction market push · Raven secures Coinbase Ventures, CMCC backing at $90M pre-money valuation

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