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Raven raises strategic funding from Coinbase Ventures and CMCC Global at $90M valuation

  • —Raven's pre-money valuation was $90 million; the round size was not disclosed
  • —Founded in 2023 as a crypto market maker, Raven expanded into prediction markets in Q2 2025
  • —The firm has provided liquidity for more than 3,000 contracts across sports, crypto, macro and entertainment
  • —CMCC Global co-founder Charlie Morris will join Raven's board to help grow institutional clients
Why it matters: Institutional market making in prediction markets is heating up, and Coinbase Ventures' backing intensifies the race between Kalshi and Polymarket for liquidity.
Source: PANews
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