Raven, a high-frequency trading firm specializing in liquidity for crypto prediction markets, has secured new funding. Coinbase Ventures and CMCC Global led the round, valuing the company at approximately $90 million.
The current valuation represents a nearly fourfold increase from the $25 million valuation achieved during the company's seed round. That initial round raised between $2.7 million and $3 million, led by Hack VC with participation from Wintermute Ventures.
Founded by former Wintermute employees Petar Kostov, Yuriy Myronovych, and Ivaylo Kirilov, Raven now provides liquidity to over 30 trading venues. Its partners include centralized exchanges like Binance, Coinbase, and OKX, as well as platforms such as Polymarket, Kalshi, and Gemini Predictions.
The company utilizes proprietary algorithmic strategies to maintain liquidity and tight spreads. Raven has explicitly stated it will not issue a cryptocurrency token, opting instead for equity-based funding to maintain a traditional corporate structure.
The investment from Coinbase Ventures is noted for its potential strategic alignment, as Coinbase continues to expand its own derivatives and event contract offerings. CMCC Global, a Hong Kong-based digital asset fund, also participated in the round.
