Web3 data privacy solution Privy has reportedly completed a Series A funding round led by Paradigm and involving Sequoia Capital and other well-known names acting as previous investors.
The same day, Privy announced that Huang, a former partner at Sequoia Capital, would join the startup’s board of directors.
Connection to the blockchain
The Fortune article describes Privy as a solution that collaborates with established companies to develop blockchain-based services that improve their operational capabilities. In the case of Blackbird, started by the founder of reservation service Resy, independent restaurants leverage Privy’s wallet tools to engage with customers, providing benefits and rewards to repeat customers.
With the primary goal of facilitating user connectivity to the blockchain across multiple devices and browsers, Privy allows customers to decide on incorporating crypto-style features into their services.
Another notable financing round
Six weeks earlier, Blackbird also announced news about its successful series A funding round, which totaled $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.
