- Gnosis Safe has rebranded to Safe.
- The Web3 digital asset management raised $100 million in a funding round led by 1kx.
- Safe is on a mission to onboard masses to Web3.
Gnosis has announced it is rebranding to Safe. The Web3 digital asset management platform announced a $100 million funding round on Tuesday. The fundraising was led by 1kxl.
The fundraising attracted more than 60 backers including Tiger Global, A&T Capital, FalconX, Digital Currency Group, Blockchain Capital, Green Field One, ParaFi, Lightspeed and Polymorphic Capital, among others.
The funds will be used to develop the Safe Ecosystem Foundation, a non-profit organisation created to protect strategic assets and scale the Safe ecosystem.
The rebranding was initiated following a community vote to spin-off Gnosis. Safe has established itself as a critical Web3 tool for securely managing digital assets data and identity across DAOs, retail and institutional users.
Commenting on his company’s leading role in fundraising, Lasse Clausen, founding partner, 1kx said: “Safe has established itself as the universal asset management primitive. From DAOs to treasury management tools, and institutional custody, Safe has achieved an incredible product-market fit throughout all segments of crypto and established itself as an absolute winner.”
Clausen thinks that developers and users are only beginning to understand the power of composable asset management, adding that 1kx have been long users of Safe.
Safe’s self-custody solution is already used to protect over 600,000 transactions, securing digital assets worth in excess of $40 billion. Moreover, Safe is the trusted solution for managing some of the leading premium NFTs, including 13% of all Cryptopunks.
The company is also behind the infrastructures supporting some of the leading decentralised autonomous organisations (DAOs) treasuring, including 1inch, and BitDAO, as well as, financial institutions Bitfinex and GSR. Some notable mainstream enterprises using Safe’s digital asset management solution include Shopify and AB group.
Lukas Schor, co-founder of Safe commented: “For mainstream adoption of Web3, we need to overcome the risks and limitations of private key accounts. Safe provides a critical public good as a composable and use-case agnostics smart contract account that can control digital assets, data and identities.”
Schor thinks that the entire web3 community will play a crucial part in the transition toward smart contract accounts.
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