Lorien Gabel co-founded Figment in Toronto in 2018 with Andrew Cronk and Ben Chan. The company runs staking infrastructure for proof-of-stake blockchains.
In October 2020 Figment raised a C$2.5 million seed round. In August 2021 it closed a C$63 million Series B, about $50 million, co-led by Senator Investment Group and Liberty City Ventures. Galaxy Digital, Anchorage, Bonfire Ventures, GSR and 40 North also took part.
The round valued Figment at about $500 million and the company had 75 employees. It later opened offices in New York and Warsaw.
Figment is privately held and does not publish detailed financials. Its revenue moves with token prices, and it competes with exchanges and liquid-staking protocols.