Phantom

Phantom

Multi-chain crypto wallet for digital assets

About Phantom

Simplify's Rating
Why Phantom is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Crypto & Web3

Company Size

201-500

Company Stage

Series C

Total Funding

$261.2M

Headquarters

San Francisco, California

Founded

2021

Overview

Phantom.app provides a multi-chain cryptocurrency wallet that allows users to manage various digital assets across different blockchain networks in one place. The wallet features a user-friendly interface, enabling users to store, stake, and earn rewards on their tokens, as well as swap them quickly and affordably. It stands out by integrating with major NFT marketplaces, allowing users to showcase and sell their NFTs easily. The company prioritizes security with a self-custodial model, ensuring users have full control over their funds.

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Funded Recently
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Simplify's Take

What believers are saying

  • Phantom raised $150M in Series C funding, valuing it at $3 billion.
  • The wallet has 15 million monthly active users and $25 billion in self-custody assets.
  • Phantom's expansion to support Sui blockchain enhances its multichain capabilities.

What critics are saying

  • Increased competition from MetaMask as it expands beyond Ethereum.
  • Potential security vulnerabilities with the novel Move programming language on Sui.
  • Integration challenges from acquiring Bitski and Blowfish may affect user experience.

What makes Phantom unique

  • Phantom supports multiple blockchains, including Solana, Ethereum, and Bitcoin.
  • The wallet offers seamless NFT management with integration into major marketplaces.
  • Phantom provides a self-custodial wallet with advanced scam detection features.

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Funding

Total Funding

$261.2M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$100M
Oura
$150M
Phantom

Benefits

Competitive salary and equity.

Comprehensive insurance (medical/dental/vision) — 100% covered.

Stipend for your ideal remote / WFH set-up: laptop, headphones, and any other work gear you may need.

Flexible hours and a long-standing, supportive remote environment.

Monthly co-working space and mobile phone expense.

Unlimited vacation: Take time when you need it (and we really mean it).

Growth & Insights and Company News

Headcount

6 month growth

-5%

1 year growth

-1%

2 year growth

-5%
Decrypt
Feb 9th, 2025
What Is Phantom? A Guide To Solana’S Most Popular Crypto Wallet

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEAs cryptocurrency adoption grows, so does the need for secure, user-friendly wallets.While MetaMask dominates Ethereum, Phantom is a self-custody cryptocurrency wallet that offers a multi-chain solution, supporting Solana, Ethereum, Base, Polygon, and Bitcoin. With built-in send, receive, buy, and swap features, it eliminates the need for a centralized exchange, making asset management seamless.What is Phantom?Launched in 2021, Phantom is a non-custodial cryptocurrency wallet originally designed for the Solana blockchain. It allows users to store, send, and receive Solana-based tokens including Official Trump, Pudgy Penguins, Bonk, and Dogwifhat.Phantom also provides access to decentralized applications and websites such as NFT marketplaces like OpenSea and Magic Eden.Initially launched as a desktop browser extension, Phantom expanded to mobile with an iOS app in January 2022 and an Android version in April 2022.In May 2023, Phantom added support for the Ethereum blockchain and Polygon scaling framework. By December 2023, it further expanded to include the Bitcoin blockchain, supporting Ordinals and BRC-20 tokens.How to Use Phantom1. How to install PhantomTo use Phantom as a browser extension, download and install the official extension for your preferred browser

Pulse 2.0
Jan 30th, 2025
Phantom Raises $150M at $3B Valuation

Phantom, a multichain wallet company, raised $150 million in Series C funding at a $3 billion valuation. The round was co-led by Sequoia Capital and Paradigm, with participation from a16z crypto and Variant. Phantom aims to accelerate crypto adoption and become a leading consumer finance platform. The company boasts 15 million monthly active users, $20 billion in annual swap volume, and $25 billion in self-custody assets. CEO Brandon Millman emphasized their mission to make crypto more accessible.

Decrypt
Jan 29th, 2025
Popular Solana And Bitcoin Wallet Phantom Adds Sui Support

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEPhantom, a popular crypto wallet used across multiple blockchains, added beta support for the Sui blockchain on Wednesday.The addition places Sui alongside Solana, Ethereum, Base, and Bitcoin in Phantom’s growing list of supported chains.“When we transformed Phantom into a multichain wallet in 2023, we did so with the commitment that only the most capable chains would be integrated into the app,” said Phantom CEO Brandon Millman in a statement. “Sui’s focus on scalability and its superior user experience aligns perfectly with Phantom's goal of making crypto accessible for everyone.”How to activate Sui (beta): Step 1: Open PhantomStep 2: Go to ‘Settings’Step 3: Select ‘Active Networks’Step 4: Toggle Sui on ⚪ → 🔵 pic.twitter.com/BHhyoRy5cp — Phantom (@phantom) January 29, 2025Sui is the first blockchain added to Phantom that uses the Move programming language, a novel blockchain-agnostic language designed to reduce learning curve for developers and improve security and productivity. Move was originally developed within Facebook parent Meta as part of its shuttered Diem stablecoin project.“The launch of Sui as the first Move-based chain on the Phantom wallet validates what the community has accomplished in the past year,” said Christian Thompson, Managing Director of the Sui Foundation.The network has blossomed in the last year, growing to become the 8th largest blockchain by total value locked with more than $1.6 billion in assets according to data from DefiLlama. In that time, the blockchain’s native SUI token is up 140% to $3.70, making it the 19th largest crypto asset by market cap.With Phantom’s addition of the chain, users can now seamlessly trade SUI and other tokens on the blockchain, like meme coins, all within the Phantom app or browser extension.To activate the chain, users will need to go to their wallet settings and select “active networks” to toggle Sui support. Access for the chain went live around 12pm ET on Wednesday

Decrypt
Jan 24th, 2025
As Ethereum Stagnates, Metamask Expands To Bitcoin And Beyond

MetaMask may already be a go-to name for millions of crypto users, but the popular digital wallet could potentially reach a much wider audience as it begins to expand beyond Ethereum—starting with Bitcoin.Whether on networks like Bitcoin or Solana, users are increasingly exploring decentralized finance, or DeFi, across a broader range of ecosystems.Christian Montoya, Consensys’ product lead for MetaMask Multichain, acknowledged the trend in an interview with Decrypt—and said MetaMask has been building in this direction for some time. (Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt).“Obviously, MetaMask is the O.G. Ethereum wallet, and it was built for Ethereum,” he said. “But we've been exploring for quite a while how we can expand beyond that.”Earlier this month, Consensys advertised a job posting for a product manager responsible for MetaMask’s “end-to-end Bitcoin experience,” designing and delivering potential future products.The posting references experience with Ordinals and Runes—Bitcoin's equivalents of NFT and meme coin protocols, respectively—as a plus. And while “​​anything is on the table,” Montoya said basic Bitcoin functionality will undoubtedly be the starting point.“There's a lot of different things that make up Bitcoin’s ecosystem, and it would be very difficult for any wallet to try to capture all of that,” Montoya said. “What we're really looking for is someone who can make strategic decisions about what the most important things to explore are.”Created by Consensys in 2016, MetaMask became a mainstay for many in the cryptosphere when Ethereum NFTs sold at eye-popping valuations in 2021 and 2022.But Ethereum isn't necessarily the epicenter of the crypto ecosystem anymore

Phantom
Jan 20th, 2025
Phantom raises $150M Series C to build the world’s biggest consumer finance platform • Phantom

We've raised a $150 million Series C at a $3 billion valuation to build the world’s biggest and most-trusted consumer finance platform.

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