Quick take:
- Thirdweb offers Web3 SDKs and pre-built smart contracts.
- The company has partnered with Shopify to add Web3 functionality to the e-commerce platform.
- Funds will be used to accelerate platform development, scale its growth engine, and add support for additional blockchains.
Web3 developer platform, thirdweb, today announced that it has raised $24 million in Series A funding, led by Haun Ventures, the venture firm of former Andreessen Horowitz general partner Katie Haun.
Participants in the round include Coinbase Ventures, Shopify, Polygon, Protocol Labs, Shrug VC, and Joseph Lacob.
The funds will be used to accelerate platform development, scale its growth engine, and add support for additional blockchains. The company’s products are currently available on Ethereum, Avalanche and Fantom, with Solana integration coming in September.
Founded in 2020 by Bebo co-founder Furqan Rydhan and entrepreneur Steven Bartlett, thirdweb provides creators and developers with the tools to build Web3 apps, with products including SDKs, prebuilt and audited smart contracts, decentralised logins for apps and more.
The company raised seed funding of just $5 million last December. According to The Block, the company has 60-70% of its seed funds left, and with the additional new funds, will now have over three years of runway.
“When we launched thirdweb, web3 was a groundbreaking new technology in its early stages. Developers were experimenting with new applications, however a fragmented and complicated workflow was stifling innovation. Our mission was to simplify the web3 development workflow and equip builders with SDKs & components to develop applications with real, tangible value,” the company wrote in a blog post.
Since its launch, over 55,000 unique wallets have used thirdweb to deploy over 200,000 smart contracts across multiple blockchains. Its tools have supported NFT drops, DAOs, blockchain games, token-gated membership clubs, and Web3 startups. Its clients include brands such as New York Fashion Week and AfterPay, who are using thirdweb to build NFT-gated membership clubs and tickets, as well as virtual worlds.
The company said that active contracts (contracts with activity in the last 24 hours) built using its tools have doubled since May, and over $1.5 million was generated by thirdweb builders in the last 30 days.
Along with the funding announcement, today also marks the beginning of thirdweb’s partnership with Shopify as the company will be adding Web3 functionality to the e-commerce platform’s tech stack.
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