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Data privacy solution Privy completes $18m financing round

data-privacy-solution-privy-completes-18m-financing-round
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Data privacy solution Privy completes $18m financing round

Privy, the Web3 data privacy solution, is reported to have completed a series A financing round that was led by Paradigm and participated in by Sequoia Capital and other well-known names who acted as earlier investors.

On the same day, Privy announced that Huang, a former partner at Sequoia Capital, was joining the startup’s board of directors.

Connecting to the blockchain

Fortune’s article describes Privy as being a solution that collaborates with established companies to develop blockchain-based services that enhance their operational capabilities. In the instance of Blackbird, initiated by the founder of the reservation service Resy, independent restaurants leverage Privy’s wallet tools to engage with customers, providing regular patrons with perks and rewards.

With a core objective of facilitating user connectivity to the blockchain across various devices and browsers, Privy empowers clients to decide on the incorporation of crypto-style features into their services.

Another notable funding round

Six weeks earlier, Blackbird also announced news about their own successful series A financing round, which totalled $24 million. 

The round was led by Andreessen Horowitz’s crypto arm, a16z, as revealed in a thread posted on X, which also included new investors Amex Ventures and QED Investors.