According to reports from CoinDesk, CNBC, and ChainCatcher, Raven has successfully closed a strategic funding round at a $90 million pre-money valuation from CMCC Global and Coinbase Ventures. The HFT firm, founded in 2023 by CEO Petar Kostov and CTO Yuriy Myronovych, previously secured investment from Hack VC and Wintermute Ventures in their seed round in 2024. The current funding round positions Raven to become a comprehensive liquidity provider across the rapidly expanding prediction markets sector. CMCC Global co-founder Charlie Morris has joined Raven's board to accelerate institutional client growth, following the company's earlier $2.7 million seed funding at a $25 million valuation. Raven declined to disclose how much each investor contributed to the latest funding round.
As reported by CoinDesk, the prediction markets sector has experienced explosive growth, clearing approximately $30 billion in volume in April 2026 and passing $50 billion in a single month around the World Cup, compared to roughly $44 billion for the entire year of 2025. This rapid expansion has created significant infrastructure challenges, with new venues and markets launching daily that require immediate liquidity support from their first day of operation. Raven addresses this gap by providing comprehensive liquidity and support services to venues and markets across multiple contract categories, with co-founder Petar Kostov noting that venues with limited trading activity often struggle to secure any liquidity partner, while higher-volume platforms can struggle to obtain enough liquidity to match demand. The sector's momentum continues with Kalshi and Polymarket generating $53 billion in combined global trading volume during July, according to Pew Research Center, with their combined volume reaching roughly $212 billion during the first seven months of 2026.
According to CoinDesk, Raven operates as a one-stop shop for prediction market venues, providing event-contract liquidity provision, launch and bootstrapping services from day zero, and ongoing support for product, technology, community, and ecosystem initiatives. The firm trades algorithmically around the clock across the US, APAC, and EEA regions, currently covering more than 10 prediction-market venues including Kalshi and Polymarket. Raven has quoted more than 3,000 contracts across virtually all contract categories, including politics, crypto, macro, sports, commodities, entertainment, and weather markets. Before moving into prediction markets, the firm was already operating as a high-frequency trading business across centralized and decentralized exchanges, and now provides liquidity for digital assets and token projects across centralized and decentralized finance markets. The prediction market industry's expansion requires more than consumer-facing exchanges - it also requires trading firms that can supply enough liquidity to support rapidly expanding markets.
As detailed in the report, Raven differentiates itself through extensive pre-launch support that begins weeks before venue operations commence. According to CTO Yuriy Myronovych, the firm works directly with venue engineering teams from drafting API specifications to writing SDKs, providing feedback at every stage to ensure frictionless onboarding for future liquidity providers. The company also advises on market design, including which categories and markets to list first based on early demand patterns and pricing confidence levels. Raven works with venues from technical setup and market design through launch and later expansion into new categories, addressing the critical need for comprehensive support as new platforms enter the market.
According to CoinDesk, CNBC, and ChainCatcher, Raven operates from Milan and Sofia and is actively hiring across engineering and trading roles, including quantitative traders for crypto and sports prediction markets. The firm entered prediction markets in the second quarter of 2025 after spending the first months on research and integration, then scaling up in the fourth quarter when its first venue launch partnerships went live. The firm serves as an institutional market-maker for prediction markets, generating constant buy and sell orders on contracts across platforms such as Kalshi and Polymarket. Raven maintains its commitment to staying in the book and supporting venues during crisis situations, including potential hacks, as long as the exchange remains operational. Raven expects to broaden its business and strengthen its position across the venues it serves, with CMCC Global co-founder Charlie Morris set to work with management on expansion among institutional clients. The prediction market industry's growth trajectory has been accelerated by significant investments from major players, with Intercontinental Exchange investing about $1.6 billion in Polymarket since 2025 and hinting at further investments, while Bernstein has raised its 2026 volume forecast from $240 billion to roughly $410 billion.
