Quick take:
- Sesame Labs has closed a $4.5 million funding round co-led by Wing Venture Capital and Patron.
- The company said the seed round will be used to bring Sasame’s web3 marketing platform to market.
- DoubleJump Crypto, Forte, MoonFire, Samsung, and Twin Ventures also participated in the round.
Sesame Labs has raised $4.5 million in a seed funding round co-led by Wing Venture Capital and Patron. The company said it will use the funds to speed up the process of bringing its web3 marketing platform to market.
The fundraising also attracted participation from DoubleJump Crypto, Forte, MoonFire, Samsung, and Twin Ventures. Angel investors in the round include Balaji Srinivasan, chief technology officer at Coinbase and founder of Earn; Robin Chan, co-founder of NFT gaming platform Fractal; and Ryan Spoon, ex-chief operating officer at Sorare.
Sesame Labs is led by a team who previously worked at some of the leading internet companies in the world including Instagram, WhatsApp, Facebook, and Twitter. Its web3 marketing products include a campaign management platform, advertising network and CRM.
The platform leverages competitor data and surface cross-channel customer insights to enable web3 companies to launch targeted marketing campaigns. Brands can also create in-platform loyalty reward programs without leaving the platform.
Commenting on the announcement, Sesame Labs co-founder Vinay Jain said: “The playbook for Web3 marketing is still being written, but we know we cannot rely on traditional Web2 marketing tactics to deliver on growth promises and engage with community members on Web3.”
Jain thinks that common web2 distribution channels have no place in web3, “so we built a solution from the ground up to be the growth engine for Web3 dApps.”
Sesame Labs launched in private beta for testing last September with Decentral Games, Ethermon, League of Kingdoms and ten other leading web3 gaming platforms participating. The platform is built on the Layer 2 Ethereum scaling blockchain Polygon, which offers infinite scalability for consumer-facing apps without compromising on security.
Tanay Jaipuria, Partner at Wing Venture Capital commented: “The founding team at Sesame Labs has a strong technical background and track record of both building and scaling products at the world’s biggest tech companies.” Jaipuria added that his firm was committed to helping web3 companies make efficient use of their time and capital on marketing campaigns.
Brian Cho, Co-Founder and GP at Patron added: “A universal pain point around Web3 has been finding sustainable growth for developers, especially those building in games.” Cho also commended the team onboarded by Sesame Labs expressing his excitement at witnessing how they are to “tackle one of the largest opportunities in Web3 dApps.”
Han Yoo, chief operating officer at NOD Games echoed those remarks saying: “Using Sesame Labs, we were able to drive a huge surge in social engagement on both Twitter and Discord for the upcoming launch of our Drago NFT collection.”
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