Cryptocurrency wallet provider BitGo has just raised $43 million in new funding, the company announced today, which will be put towards expanding the use of its technology among institutional investors.
The Series B round was led by Valor Equity Partners, and comes as bitcoin is getting more and more attention from investors as the currency’s value continues to rise.
BitGo’s technology powers $8 billion in transactions per month, the company said in a press release regarding the funding round.
This latest raise brings the company’s total value to over $55 million—its last raise was in June 2014.
Bitcoin is presently valued at $16,459.44 as of 12pm ET, according to data from CoinDesk.