Prominent cryptocurrency billionaire Tim Draper has spearheaded a $4 million funding round for a Web3-focused altcoin project.
This altcoin project received support from Tim Draper in the funding round
EtherMail, the Web3 email solution that sets the standard for anonymous and encrypted wallet-to-wallet communication, has secured $4 million in a pre-Series A funding round led by Draper Associates, Tim Draper’s company.
The funding will be used to “support the release of EtherMail SSO (Single Sign-On Solution) and AMS (Ad Market Solution) with a personalized protective layer for email users spam filtering.”
More great coverage of our $4M pre-Series A funding round, led by @TimDraper! As reported by @Benzinga, he’ll also be joining our Advisory Board, as we prepare for an expansive phase of growth over the course of 2023! https://t.co/4BLUbbCsRk pic.twitter.com/8NKLscoCeN
— EtherMail (@ethermail_io) March 9, 2023
EtherMail has experienced rapid growth in terms of user engagement with over 500,000 users since closing its $3.3 million initial round in August 2022. The altcoin project’s Web3 email solution also “facilitated Web3 voting for the Crypties Awards 2022 at Decrypt Studios’ inaugural ceremony, with more than 10,000 attendees, the leading annual awards initiative in the crypto market.”
cryptocoin.comEtherMail announced that it has “expanded the reach of its Web3 email solution to millions of registered UD and ENS users with ENS (Ethereum Name Service) and Unstoppable Domains powered by Draper”.
Among crypto investors at MS&AD Ventures
MS&AD Ventures is “backed by MS&AD Insurance Group Holdings, the world’s fifth largest insurance company and Asia’s leading player.” Shant Kevonian, CEO and Founder of EtherMail, had this to say about Draper and MS&AD’s support:
Today’s announcement represents an important seal of approval for our Web3 email solution by one of the world’s leading technology investment visionaries. Draper Associates has an unrivaled track record of supporting early-stage industry players and we are proud to join companies like Tesla, SpaceX and our partners Unstoppable Domains as Draper-backed innovators. Additionally, MS&AD’s support will be invaluable as we continue our expansion in Asia by setting the standard for anonymous and encrypted wallet-to-wallet communication.
Tim Draper, co-founder of Draper Associates, stated that a productive year awaits EtherMail:
The EtherMail team has quickly established a dominant market position at the forefront of Web3 email innovation, supported by a solid understanding of the evolving Web3 market dynamics. With an expanding partnership network, exciting integrations with leading Web3 platforms, and a comprehensive product roadmap on the horizon, the company is poised for a massive growth trajectory in 2023 and beyond.
About EtherMail
EtherMail is the first Web 3.0 Email Solution that sets the standard for anonymous and encrypted wallet-to-wallet communication. For Web 3.0 Companies: With EtherMail, companies can send rich, relevant content directly to asset holders based on real-time information synchronized with the Blockchain. The project does not currently have any tokens traded on exchanges.
