Blockchain and crypto technology-focused investor Pantera Capital has led a latest $65m funding round in Web3 digital identity platform Unstoppable Domains, boosting its valuation to $1bn.
New investors Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, and Sound Media Ventures, as well as existing investors Boost VC and Draper Associates also participated in the round.
The company said it will use the funding for product innovation and grow business partnerships.
Paul Veradittakit, partner at Pantera Capital, said, “Unstoppable Domains is rapidly defining a new category of decentralized identity that will change the internet as we know it. We’re proud to back Matt and the rest of the team who are making this vision a reality.”
Founded in 2018, Unstoppable Domains offers NFT domains that give people full ownership and control of their digital identity. It has registered 2.5 million domains for 150 web3 applications to replace lengthy crypto wallet addresses.
The company had generated more than $80m in sales since 2019.
It has built more than 300 partnerships with web3 companies including Polygon, Blockchain.com and MoonPay.
Pantera had reportedly raised close to $100m for its third venture capital fund in 2018, picking up contributions from 90 investors to date.
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