Raven secures $90M valuation for prediction markets

Raven has raised funding at a $90 million pre-money valuation from CMCC Global and Coinbase Ventures, two firms that have previously backed projects in the prediction markets space. The round, first reported by Reuters, positions Raven as a one-stop shop for decentralized forecasting.

Prediction markets have struggled to gain mainstream traction outside crypto circles, despite repeated attempts by startups to build liquid, scalable platforms. Raven’s raise arrives as many crypto startups face valuation cuts or shutdowns, suggesting that investors still see potential in niche applications where blockchain-based transparency can offer a competitive edge.

CMCC Global and Coinbase Ventures have both invested in earlier projects in this space. Their participation in Raven’s round may indicate confidence in the team’s ability to address long-standing issues around liquidity and regulatory uncertainty. Neither investor has disclosed the size of their commitments.

StartupReader first covered Raven’s funding on 30 September, noting the valuation but without confirmation of the round’s structure. The company has not yet announced a public launch or user base metrics, leaving open questions about adoption and revenue growth. Observers will watch for signs of regulatory engagement, particularly in jurisdictions where prediction markets face legal restrictions.

Sources: reuters.com