About Web3Auth
Web3Auth offers authentication infrastructure for Web3.0 wallets and applications, focusing on simplifying the onboarding process for users of decentralized applications (DApps). It uses Multi-Party Computation (MPC) threshold cryptography to enhance security while avoiding complex seed phrases that can hinder new users. Unlike its competitors, Web3Auth prioritizes user-friendly solutions that help mainstream users engage with blockchain technologies. The company's goal is to support the broader adoption of decentralized technologies by providing a seamless and secure user experience.
Singapore, SingaporeHeadquarters
2018Year Founded
$14.6MTotal Funding
SERIES_ACompany Stage
Cybersecurity, Crypto & Web3Industries
11-50Employees
Risks
Emerging competitors like Best Web3 Inc. could capture market share with similar solutions.
Rapid Web3 technological advancements may outpace Web3Auth's current offerings.
Dependency on partnerships like Google Cloud could impact operations if terms change.
Differentiation
Web3Auth simplifies Web3 onboarding with familiar social logins like Google and Facebook.
The company uses MPC threshold cryptography for secure, user-friendly key management.
Web3Auth integrates with major blockchains like Zilliqa and XRP Ledger for seamless authentication.
Upsides
Increased adoption of social logins aligns with Web3Auth's user-friendly authentication focus.
Partnership with Google Cloud expands Web3Auth's reach to traditional cloud service users.
SafeAuth collaboration eliminates seed phrases, reducing barriers for new Web3 users.
Funding
Total raised$14.59 M
Latest valuation$65.00 M
StageSERIES_A
SERIES A
12/31/2021$13
$65.00 MSEED
6/30/2019$2
$10.00 M