Kraken Raises $500M Funding, Valued at $15B for 2026 IPO
- Kraken completed a $500 million funding round, preparing for an IPO anticipated in 2026.
- The funding round had no lead investor and valued Kraken at $15 billion.
- Participants included investment managers, venture capitalists, and co-CEO Arjun Sethi through Tribe Capital.
- Founded in 2011, Kraken's previous venture capital funding totaled $27 million until this year.
- In Q2, Kraken generated $411 million in revenue with nearly $80 million in post-Ebitda earnings.
- Sethi is pivotal in Kraken's recent strategic changes, acquiring NinjaTrader for $1.5 billion and expanding its customer base by 2 million.
- Kraken has experienced executive turnover, with four senior executives departing as it reduces jobs before the IPO.
