Raven Secured Funding at $90 Million Valuation
Prediction market liquidity provider Raven will use new capital to drive institutional adoption.
Updated on Sept. 29, 2026 in Startups
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Raven, a 2023 startup specializing in market liquidity, closed a strategic funding round led by Coinbase Ventures and CMCC Global. The firm is now valued at $90 million pre-money as it seeks to scale its institutional contract services.
Why it matters
The investment signals increased venture interest in the infrastructure layer of prediction markets. Raven is positioned to capture demand from institutional players by automating contract quotes and technical market design.
Raven achieved a $90 million pre-money valuation, marking a significant increase from its $25 million seed valuation in 2024. The firm has now quoted more than 3,000 contracts to support its liquidity services.
The players
Raven
A liquidity-focused startup that provides automated buy and sell orders for prediction market contracts.
Coinbase Ventures
The corporate venture capital arm of the global cryptocurrency exchange Coinbase.
CMCC Global
A Hong Kong-based investment firm specializing in digital asset and blockchain infrastructure.
Charlie Morris
An industry participant who has joined the board of directors of Raven.
The details
Raven operates by generating constant buy and sell orders for contracts to maintain liquidity, a model it expanded into prediction markets in the second quarter of 2025. Beyond market making, the startup provides advisory services for API integration and market design. The new capital will support its stated plan to scale these operations among institutional clients.
Timeline
Raven was founded in 2023.
The firm completed a seed funding round in 2024.
Expansion into prediction markets occurred in the second quarter of 2025.
Coinbase introduced its own prediction markets in December 2025.
The funding round with Coinbase Ventures and CMCC Global closed on September 29, 2026.
Market Landscape
Raven’s growth trajectory follows the wider industry trend of expanding prediction market access that accelerated in late 2025. This funding highlights the shift toward professionalizing market liquidity infrastructure as prediction platforms compete for institutional volume.
Operators in the financial technology sector should monitor Raven's institutional expansion as a signal for potential competition in automated liquidity provisioning. Review current contract quoting workflows and API integrations to determine if third-party liquidity services offer a cost advantage.
The takeaway
The move toward institutional-grade liquidity providers like Raven suggests prediction markets are moving beyond retail-only participation. Management should track the integration of automated quote generation in their own trading environments to stay competitive.
Further reading
For more on the latest capital trends, visit our Startups section.
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