The equity funding round has helped the firm to achieve unicorn status.
Web3-focused digital identity platform, Unstoppable Domains, announced closing $65 million in Series A funding. Its valuation now stands at $1 billion.
The round was led by a new investor Pantera Capital. Other participants include Polygon, CoinDCX, CoinGecko, Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, and Alt Tab Capital. Initial investors, Coinbase Ventures and Protocol Labs were absent from the funding round., the latest funding round will be deployed to fuel product innovation and forge partnerships in the web3 space.
Unstoppable Domain essentially allows users to create a blockchain-connected web address similar to a URL that converts a digital wallet’s addresses into a simpler human-readable name that connects with decentralized apps and crypto exchanges.Founded in 2018, the startup had registered 2.5 million domains to date. It has generated $80 million in revenue since its launch the following year. Before the $65 million investment round, the Unstoppable Domain had raised $7 million of funding.
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