According to Fortune magazine, $DeFi risk management protocol Gauntlet has raised $125 million in funding, with Japanese financial giant SBI Holdings participating. This round was completed in June and had no other participants; the valuation at the time of financing was not disclosed.
Gauntlet was founded in 2018 as an analytics firm serving protocols in the $DeFi space. Between 2023 and 2024, its business shifted toward “treasury management.” It currently employs 40 people, and its existing clients include asset management giant Apollo, cryptocurrency exchange Coinbase, and stablecoin issuer Circle.In 2022, Gauntlet completed a $24 million Series B funding round led by Ribbit Capital, with a valuation of $1 billion.[Foresight News]