Coinbase raises $100M in funding round for total value of $1.6B
Coinbase recently raised $100 million in a Series D funding round, bumping the company's total value to $1.6 billion, according to a report by Tech Crunch.
The company plans to use this latest funding boost to build a customer interface for digital currency applications, the report said.
Coinbase has had a big year, facilitating almost $16 billion in virtual currency exchange in the first half of 2017 — five times the company's transaction total for all of 2016.
On the flip side, Coinbase has struggled with downtime in past months due to increased customer volumes. Customer response time has faltered as well, but the company told Tech Crunch that it is working to improve the timeframe to less than 6 hours by the third quarter.