Ripple Labs today announced that it raised $3.5 million from Core Innovation Capital, Venture 51, Camp One Ventures, IDG Capital Partners, and a small set of unnamed individuals. Previous investors include Google Ventures, Andreessen Horowitz, IDG Capital Partners, FF Angel, Lightspeed Venture Partners, The Bitcoin Opportunity Fund and Vast Ventures. Ripple Labs will use the funds to expand the team and support operations. The Ripple Labs team exists to contribute code to and promote the Ripple protocol, as well as to create SDKs and build free consumer apps.

Read about recent additions to the Tech, Product and Business Development teams.