Webacy Raises $4 Million in Seed Round to Strengthen Web3 Safety
Webacy, a company focused on building comprehensive and easy-to-use products to help people protect their self-custodied digital assets, has raised $4 million in a seed funding round led by gmjp. The round included other prominent investors such as Gary Vaynerchuk, AJ Vaynerchuk, Mozilla Ventures, Soma Capital, DG Daiwa Ventures, Quantstamp, CEAS Investments, Dreamers VC, and MIRAISE.
With the growth of the web3 space, which is powered by blockchain and decentralized systems, there has been an increased need for secure and safe solutions to protect digital assets. To welcome the next billion users to the web3 space, a safe environment is necessary that allows everyone to transact and own assets with the power to protect themselves. This is where Webacy comes in.
The seed funding round coincided with the public launch of Webacy’s Safety Suite, which includes Wallet Watch (real-time wallet monitoring), Backup Wallet (for loss of access, keys, or phrases), Panic Button (to bulk send assets to a safe house wallet in case of an exploit or hack), and Crypto Will (to ensure assets are in the hands of beneficiaries and loved ones in the event of death).
The Safety Suite enables consumers to protect multiple wallets and any type of Ethereum asset. Wallet Watch is available for free for a limited time, while Panic Button, Backup Wallet, and Crypto Will are covered by a subscription plan. Webacy has also announced partnerships with multiple companies, NFT projects, and DAOs to help bring their product to a blockchain-native audience.
With billions of dollars worth of crypto being stolen and misplaced in 2022, the importance of safety and protection in the web3 space cannot be overstated. The recent spate of hacking and security breaches serves as a reminder of the dangers of leaving digital assets vulnerable.
Webacy CEO and founder, Maika Isogawa, stated, “We’re creating a safer web3 for everyone.” The company’s mission to bring enhanced digital safety to the masses has been backed by prominent investors and its launch of the Safety Suite is a step in the right direction towards achieving this goal.