Coinbase Ventures and CMCC Global close strategic funding round with trading firm Raven — SkimNews
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- Raven closed a strategic funding round with Coinbase Ventures and CMCC Global at a $90 million pre-money valuation, though the firm declined to disclose individual investment amounts from each backer.
- Raven was founded in 2023 as a high-frequency crypto trading firm and expanded into prediction markets in Q2 2025, now serving as institutional market-maker for platforms including Kalshi and Polymarket.
- Raven has quoted more than 3,000 contracts across sports, crypto, macroeconomics, and entertainment, and advises venues on technical setup, API specifications, and which markets to list first.
- CMCC Global co-founder Charlie Morris joined Raven's board of directors to help expand the firm among institutional clients, citing Raven's ability to 'dominate liquidity on the venues that they serve.'
- Coinbase Ventures confirmed the round with CNBC; parent company Coinbase launched prediction markets in its trading app in December, signaling direct strategic alignment with Raven's core business.
- Raven previously raised $2.7 million in a seed round at a $25 million valuation led by Hack VC in 2024, representing a roughly 3.6x jump in pre-money valuation in about a year.
Why it matters: Raven's pre-money valuation tripled from $25M to $90M in roughly a year, and strategic backing from Coinbase Ventures — whose parent launched competing prediction markets just months ago — confirms prediction-market infrastructure is being treated as a serious institutional asset class, not a novelty.
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