Raven’s prediction-market valuation more than triples to $90m
Raven did not disclose how much Coinbase Ventures & CMCC Global actually invested in the round.
The hit
Raven, a liquidity provider to prediction markets, has closed a new funding round that values the firm at a $90 million pre-money valuation, according to Raven’s announcement. CMCC co-founder Charlie Morris is joining Raven’s board. Raven did not disclose how much either investor put in.
Why it matters
Market makers like Raven keep prediction-market spreads tight & prices honest by stepping in as a constant counterparty, according to Gemini. Professional investors may be willing to back market makers such as Raven because those firms serve a vital function in the prediction-market ecosystem, according to casino.org.
The record
| New valuation | $90m pre-money (Raven, led by Coinbase Ventures & CMCC Global) |
|---|---|
| Previous valuation | $25m, set after a $2.7m seed round in 2024 (Hack VC-led) |
| Founded | 2023; began market-making in event contracts in Q2 2025 |
| New board member | Charlie Morris, CMCC co-founder |
What happens next
Watch whether Coinbase Ventures deepens its prediction-market bets further, having already backed Billy Bets, Earlybird & Limitless alongside Raven.
Sources: Raven Raises at $90M Valuation From CMCC Global and Coinbase Ventures for Prediction Markets · Coinbase, CMCC Invest in Prediction Market Liquidity Provider Raven at $90M Valuation
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