Web3 startup mywebacy has raised $4 million and launched a suite of safety products that fit into existing self-custodial wallets. BrandyBetz reports
Webacy, a startup helping make self-custodial wallets more secure, has closed a $4 million seed funding round led by Web3-focused investment firm gmjp with entrepreneur Gary Vaynerchuk, his brother AJ Vaynerchuk and Mozilla Ventures among the backers.
Webacy is a technology layer rather than a competitor for crypto wallets like MetaMask. The technology allows users to access their existing self-custodial wallets without the need for keys, seed phrases or passwords and provides security features to reduce the risk of assets being lost or stolen, a common problem in crypto.
Investors in the round included Soma Capital, DG Daiwa Ventures, Quantstamp,,CEAS Investments, Dreamers, and Miraise, among others. Founded by Stanford alumnus and former Microsoft cybersecurity engineer Isogawa, San Francisco-based Webacy previously raised funds in an unannounced pre-seed round in late 2021. With the new round, the startup has raised just over $5 million.
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