Webacy, a company focused on building comprehensive and user-friendly products to help individuals protect their self-custodied digital assets, has raised $4 million in a seed funding round led by gmjp. Other notable investors in this round include Gary Vaynerchuk, AJ Vaynerchuk, Mozilla Ventures, Soma Capital, DG Daiwa Ventures, Quantstamp, CEAS Investments, Dreamers VC, and MIRAISE.
As the web3 space powered by blockchain and decentralized systems continues to evolve, there is an increasing demand for secure solutions to protect digital assets. To welcome the next billion users into the web3 space, a secure environment is essential, enabling everyone to transact, own assets, and have the capability to protect themselves. This is where Webacy plays a crucial role.
The seed funding round coincides with the public release of Webacy’s Safety Suite, which includes Wallet Watch (real-time wallet monitoring), Backup Wallet (for lost access, keys, or phrases), Panic Button (bulk asset transfer to a secure wallet in case of exploitation or hack), and Crypto Will (ensuring assets are passed to beneficiaries and loved ones in case of death).
Safety Suite empowers consumers to protect multiple wallets and any type of Ethereum-based assets. While Wallet Watch is initially provided for free for a limited time, Panic Button, Backup Wallet, and Crypto Will are covered by subscription plans. Webacy has also announced partnerships with multiple companies, NFT projects, and DAOs to facilitate the introduction of its products to blockchain-native audiences.
The importance of security in the web3 space cannot be overstated, with billions of dollars worth of cryptocurrencies stolen or lost in 2022 alone. Recent incidents of hacking and security vulnerabilities serve as stark reminders of the vulnerability of digital assets.
Maika Isogawa, CEO and founder of Webacy, stated, “We are creating a more secure web3 for everyone.” The company’s mission has garnered support from renowned investors, and the release of the Safety Suite represents a significant step towards achieving this goal.