Unstoppable Domains Reaches Unicorn Status After Latest Raise

A $65 million Series A led by Pantera Capital lifted Unstoppable Domains valuation

article-image

Co-founders Matthew Gould and Braden Pezeshki; Source: Unstoppable Domains

share

key takeaways

  • The web address provider plans to use the money to grow partnerships
  • Matthew Gould hopes to grow the company’s product and engineering teams

San-Francisco-based Unstoppable Domains which connects Web2 to Web3 through blockchain domains has reached a $1 billion valuation after it closed a $65 million Series A funding round led by Pantera Capital. 

Other investors that joined the round included Mayfield, Gaingeles, Alchemy Ventures, Redbeard Ventures and Spartan Group, just to name a few. Previous investors including Boost VC and Draper Associates also participated in its latest fundraise.

The decentralized web address provider plans to use this money to grow partnerships in the Web3 space and allow businesses and individuals to build their Web3 identity through their domains. 

“The Web2 era failed in terms of protecting people’s privacy and personal information. The Web3 era holds much greater promise for giving ownership and control to the people,” Matthew Gould, founder and CEO of Unstoppable Domains told Blockworks. 

The latest funding round will be used to fuel product innovation and partnerships in the Web3 space Gould said. It will also allow Unstoppable Domains to expand its team. Currently, the crypto unicorn has a little less than 200 employees working completely remote, and Gould said that the company plans to actively hire for a few select roles “primarily in product and engineering.”

“With this funding round, we’re laser-focused on putting our resources towards sustainable growth, which we think we can achieve by expanding our partnerships and continuing to build a platform for Web3 identity,” Gould said.

Unstoppable Domains has recently sent a cease and desist letter against competitor Gateway.io for running a .wallet domain in the competing Handshake system. This may become a more significant issue when ICANN releases new domain names that could conflict with Unstoppable’s domains.

Despite this, Gould remains positive. In an interview with Domain Name Wire, he said “We’ll try to figure it out once we get to that point, with ICANN…and I think that we’re headed in the right direction here.”


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg

Research

In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.

article-image

BUZZ holds shares of Coinbase, Robinhood and MicroStrategy

article-image

Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile

article-image

The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally

article-image

While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders

article-image

Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume

article-image

DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit