Raven secures Coinbase Ventures, CMCC backing at $90M pre-money valuation
The firm provides institutional market-making services on platforms including Kalshi and Polymarket.
Coinbase Ventures and CMCC Global have participated in a strategic funding round for Raven at a $90 million pre-money valuation, backing the trading firm as it expands its prediction-market business.
That’s a nearly 4x jump from the $25 million valuation the company carried during its seed round just a couple of years ago.
CMCC co-founder Charlie Morris has joined Raven’s board and will work with management to expand its institutional business.
Raven has grown from a crypto market maker founded by former Wintermute traders into a liquidity provider serving more than 30 trading venues. Co-founders Petar Kostov, Yuriy Myronovych and Ivaylo Kirilov launched the firm in January 2023, followed by a $2.7 million seed round led by Hack VC at a $25 million valuation.
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The company provides algorithmic liquidity across centralized and decentralized exchanges, as well as prediction markets including Polymarket and Kalshi. Its strategies are designed to maintain tight spreads and deep liquidity, positioning Raven between the crypto market infrastructure and the growing prediction-market sector.
Its Coinbase Ventures backing comes as Coinbase develops its own prediction-market offering, while CMCC Global has invested broadly across digital-asset infrastructure and DeFi.