EtherMail raises $4 million
EtherMail, “the first Web3 email solution,” has raised $4 million in a pre-Series A funding round led by Draper Associates, with participation from MS&AD Ventures.
Founded in 2021, EtherMail offers a free email solution that allows users to communicate anonymously and receive rewards for reading emails of advertisers. “Publishers want to get in touch with you, but you need to be compensated for it. The EMC represents a first-of-its-kind incentivization mechanism to reward email users for their time and energy sifting through unsolicited emails, creating a much-needed framework for email economics.”
The funding will be used to drive recruitment and ongoing market expansion while expediting the roll out of the EtherMail SSO (Single Sign-on Solution) and the AMS (Advertising Marketplace Solution) together with a personalized protective layer for email users to filter spam and earn rewards for receiving inbound advertising emails.
“Today’s announcement represents a significant seal of approval for our Web3 email solution from one of the world’s foremost tech investment visionaries. Draper Associates has an unrivaled track record when it comes to backing early-stage industry disruptors, and we’re proud to join the likes of Tesla, SpaceX and our partners Unstoppable Domains as Draper-backed innovators. Additionally, the support of MS&AD will be invaluable as we continue our Asian expansion, setting the standard for anonymous and encrypted wallet-to-wallet communication.” – Shant Kevonian, CEO and founder of EtherMail.
“The EtherMail team has quickly established a dominant market position at the forefront of Web3 email innovation, underpinned by a firm understanding of evolving Web3 market dynamics. With an expanding partnership network, exciting set of integrations with prominent Web3 platforms, and comprehensive product roadmap on the horizon, the company is gearing up for a massive growth trajectory in 2023 and beyond.” – Tim Draper, founding partner of Draper Associates.
“EtherMail has developed a category-leading solution that is already providing significant value to Web3 companies across the industry spectrum. We are firmly aligned with the EtherMail vision to redefine the dynamics of email economics with its native utility token EMT, and see EtherMail playing an integral role in incentivizing Web2 users to join the Web3 space. We look forward to helping the team with its ongoing Asian expansion in the months ahead.” – Jon Soberg, managing partner at MS&AD Ventures.