Tim Draper Leads $4 Million Pre-Series A Round for EtherMail, the Web3 Email Leader

EtherMail, the first Web3 Email Solution setting the standard for anonymous and encrypted wallet-to-wallet communication, has successfully raised $4 million USD in a pre-Series A funding round led by Tim Draper and Draper Associates, a global venture capital firm investing in industry transforming companies. The round also included participation from MS&AD Ventures.

The funding will be leveraged 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.

Since closing a $3.3 million seed round in August 2022, EtherMail has experienced rapid growth in terms of user onboarding with more than 500,000 users and established partnerships with popular NFT projects such as Probably Nothing, Toxic Skulls Club, inBetweeners and Prime Planet. EtherMail’s Web3 email solution also facilitated Web3 voting for Decrypt Studios’ inaugural Crypties Awards 2022 with more than 10,000 participants – the crypto industry’s preeminent annual awards initiative. Most recently, EtherMail announced its integration with ENS (Ethereum Name Service) and Draper-backed Unstoppable Domains, extending the reach of its Web3 email solution to millions of registered UD and ENS users.

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With four generations of investing expertise, Draper Associates has underscored its credentials as a leader in early-stage venture capital, having invested in a range of household name brands such as Hotmail, EtherScan, Skype, Coinbase, Baidu, Tesla, SpaceX and Twitch.

MS&AD Ventures invests in startups at the cutting edge of A.I., Big Data, Cybersecurity, Fintech, Insurtech, SaaS, Infrastructure and Digital Health, with a penchant for deploying ‘smart money’ towards next-gen solutions that tie in with evolving market trends and access to asian markets. MS&AD Ventures is backed by MS&AD Insurance Group Holdings, the fifth largest insurance conglomerate in the world and the leading player in Asia.

Shant Kevonian, CEO and Founder of EtherMail said: “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.”

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Gerald Heydenreich, Founder of EtherMail said: “Securing funding from investors the caliber of Draper Associates and MS&AD is a huge moment for EtherMail, and follows a rich phase of early market validation from our growing list of top-tier industry partners. As our development roadmap switches into high gear, we will have ample financial runway to execute and expedite our global expansion prior to our planned token launch.”

Tim Draper, Founding Partner of Draper Associates said: “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.”

Jon Soberg, Managing Partner at MS&AD Ventures said: “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.”

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