ConsenSys

ConsenSys offers a suite of blockchain solutions that include 1) Diligence (smart contracts) 2) Infura (provides API access to the web 3) MetaMask (a Web3 mobile wallet) 4) Quorum (blockchain for business), and 5) Truffle (developer tools and testing). These solutions make it easier for businesses and developers to build blockchain-based solutions functioning on the Ethereum network.

Consensys Quorum is an open-source blockchain platform that is designed for enterprise environments. It was initially developed by J.P. Morgan and later acquired by ConsenSys. Quorum is built upon Ethereum, inheriting its architecture and smart contract functionality, additionally including enhancements specific for enterprise use. Notably, Quorum supports private and permissioned blockchain networks. Quorum also introduces private transactions and private contracts that are not visible to the entire network but only to the parties involved.

ConsenSys’ product suite also includes Decentralized Finance (DeFi) solutions for institutions and crypto enterprises, support for customers to build their own DeFi application, and support in running staking operations for customers. Furthermore, the company offers support for the creation and management of NFTs and digital collectibles using the ConsenSys NFT solution and powering decentralized autonomous organizations (DAOs) across various uses such as customer care and education.

Key customers and partnerships

The company had over 2,000 global clients and partners as of May 2023, with its key client base including Microsoft, Ernst & Young, and Proctor & Gamble.

ConsenSys has aggressively pursued collaborations and partnerships to support the adoption of its product suite for various uses. This includes a launch of a marketplace for institutional staking in March 2023, in partnership with Allnodes, Blockdaemon, and Kiln, built upon the MetaMask wallet. Another example is the launch of Sports Illustrated Tickets (SI Tickets) in May 2023, in partnership with Sports Illustrated and built by ConsenSys as a self-service ticketing and event management solution. Amazon Web Services is also a key product partner, specifically supporting ConsenSys’ Ethereum-based solutions.

Funding and financials

In March 2022, ConsenSys raised USD 450 million in Series D funding at a valuation of over USD 7 billion. The round was led by ParaFi Capital and supported by new investors such as Temasek and Softbank. The funds were to be primarily used for the expansion of MetaMask, including a re-design and planned rollout of support for extensions. Additionally, the funds were aimed at supporting the global customer growth of the Infura development suite.