Total amount raised
$160 Million
Latest funding date
8/1/2022
Location
thirdweb has successfully raised funding over two rounds, with the latest being a Series A round involving multiple investors, including Haun Ventures and Coinbase Ventures. The platform offers comprehensive developer tools for building web3 applications, games, tokens, NFTs, marketplaces, DAOs, and more.
Keep reading to explore the intricacies of thirdweb's fundraising journey and the investors backing this innovative platform.
What Is thirdweb?
thirdweb is a private company based in San Francisco, California, specializing in blockchain and AI infrastructure. The company offers a comprehensive suite of developer tools for building web3 applications, games, tokens, NFTs, marketplaces, and DAOs.
With a team of 11-50 employees, thirdweb focuses on accelerating the development of next-generation internet products. Their platform supports various industries, including gaming, consumer apps, DeFi, and e-commerce, providing solutions for token creation, multi-chain access, and blockchain data integration.
How Much Funding Has thirdweb Raised?
- Seed Round
- Amount Raised: USD 5,000,000
- Date: December 2021
- Lead Investors: Founders, Inc.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The seed funding was aimed at establishing the company, developing its core product, and attracting initial users and developers to its platform.
- Series A Round
- Amount Raised: USD 24,000,000
- Date: August 2022
- Lead Investors: Haun Ventures
- Valuation at Round: USD 160,000,000
- Motivation Behind the Round: The funds will be used to enhance thirdweb's developer toolkit, expand support for more blockchains, increase its user base, and grow its team.
Total Amount Raised: USD 29,000,000. Current Valuation: USD 160,000,000.
Key Investors
- Haun Ventures
- Details: Haun Ventures is a venture capital firm founded by Katie Haun, a former federal prosecutor and general partner at Andreessen Horowitz. The firm focuses on investing in Web3 and blockchain technologies.
- Investment Focus Areas: Web3, Blockchain technologies, Decentralized finance (DeFi)
- Notable Investments: OpenSea, Autograph, Zora
- Coinbase Ventures
- Details: Coinbase Ventures is the investment arm of Coinbase, one of the largest cryptocurrency exchanges in the world. It focuses on early-stage cryptocurrency and blockchain startups.
- Investment Focus Areas: Cryptocurrency, Blockchain startups, Decentralized applications (dApps)
- Notable Investments: Compound, BlockFi, Etherscan
- Shopify
- Details: Shopify is a leading e-commerce platform that allows businesses to create online stores and manage their sales. The company has expanded its services to include blockchain and cryptocurrency integrations.
- Investment Focus Areas: E-commerce, Retail technology, Payment solutions
- Notable Investments: Stripe, Affirm, Klaviyo
- Protocol Labs
- Details: Protocol Labs is a research, development, and deployment lab for network protocols. It is known for creating IPFS (InterPlanetary File System) and Filecoin.
- Investment Focus Areas: Decentralized storage, Network protocols, Blockchain technology
- Notable Investments: Filecoin, IPFS, Textile
- Polygon
- Details: Polygon is a protocol and framework for building and connecting Ethereum-compatible blockchain networks. It aims to create a multi-chain ecosystem of Ethereum-compatible blockchains.
- Investment Focus Areas: Blockchain scalability, Ethereum-compatible networks, Decentralized applications (dApps)
- Notable Investments: Aave, SushiSwap, Decentraland
What's Next for thirdweb?
thirdweb stands at the cusp of significant growth, driven by the increasing demand for Web3 applications and blockchain technology. With a robust developer toolkit and partnerships with major brands, the platform is poised to onboard hundreds of thousands of new developers and support a wider array of blockchains. This expansion could potentially generate millions in weekly revenue, reflecting the vast opportunities ahead.
Future fundraising rounds seem inevitable as thirdweb scales its operations and attracts more users. The involvement of high-profile investors like Katie Haun and the successful Series A round suggest that additional investments will follow, further fueling the company's growth and innovation.
However, thirdweb will need to navigate challenges such as intense competition, regulatory uncertainties, and the need for continuous innovation. Staying ahead in the rapidly evolving Web3 space will require strategic planning and adaptability, ensuring that thirdweb remains a leader in blockchain development.
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