• ChainwireWebacy announced the successful closure of a $4M seed round to support its goal of making web3 safer.
• Notable investors in the round include gmjp, Gary Vaynerchuk and AJ Vaynerchuk, Mozilla Ventures, Soma Capital, and QuantStamp.
• Webacy is building comprehensive and easy-to-use products to help people protect their self-custodied digital assets.

ChainwireWebacy Closes $4M Seed Round

ChainwireWebacy has announced the successful closure of a $4M seed round to support its goal of making web3 safer. The event is Webacy’s second round of financing, following a pre-seed raise in late 2021. Notable previous investors include Pareto Holdings, Quiet Capital, LOI Venture, MetaverseHQ, and Origin Protocol.

Notable Investors

gmjp led the round which also included Gary Vaynerchuk and AJ Vaynerchuk, Mozilla Ventures, Soma Capital, DG Daiwa Ventures, Quantstamp, CEAS Investments, Dreamers, and Miraise. The two rounds bring Webacy’s total financing to over $5M. Louis Kang Partner at gmjp said: “We’re excited to back incredible founders building important companies that solve important problems in the world today in web3.” AJ Vaynerchuk Partner at VaynerFund stated: “We’ve seen a huge need for safety products amongst our communities at VaynerSports Pass and Veefriends.”

Protection Technology

Webacy is building comprehensive and easy-to-use products to help people protect their self-custodied digital assets. The company’s protection technology doesn’t require custody or storage of keys. With the mass movement of assets off centralized environments into self-managed wallets protection is more important than ever. Webacy’s Safety Suite of products includes Wallet Watch (for 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).

Smart Contract Technology

Webacy has built its products using smart contract technology. The customer is able to sign their own smart contracts to set triggers that enable the transfer of assets to backup wallets and beneficiaries. Maika Isogawa CEO and Founder at Webacysaid: “To welcome the next billion users to web3 we’ll need a safe environment that allows everyone to transact with confidence.”

Conclusion

ChainwireWebacy closed its second financing round after raising over $5 million in total funding from notable investors such as gmjp Gary Vaynerchuk AJ Vaynerchuk Mozilla Ventures Soma Capital QuantStamp CEAS Investments Dreamersand MiraiseThe company is building comprehensive security solutions such as Wallet Watch Backup Wallet Panic Buttonand Crypto Willusingsmart contract technology These tools will help create a safe environment for users on web3 so they can transact with confidence