EtherMail Gains Momentum with $4 Million in Funding and 500,000 Users

EtherMail, the world’s first Web3 email solution that enables anonymous and encrypted wallet-to-wallet communication, has recently secured $4 million in a pre-Series A funding round. This funding was led by Tim Draper and his firm, Draper Associates, a global venture capital firm that invests in industry-transforming companies. MS&AD Ventures also participated in the round. The funding will be used to accelerate the company’s recruitment, ongoing market expansion, and rollout of its Single Sign-on Solution (SSO) and Advertising Marketplace Solution (AMS). It will also help develop a personalized protective layer for email users to filter spam and earn rewards for receiving inbound advertising emails.

After closing a $3.3 million seed round in August 2022, EtherMail has seen impressive growth in user onboarding, with over 500,000 users. The company has also established partnerships with popular NFT projects like Probably Nothing, Toxic Skulls Club, inBetweeners, and Prime Planet. EtherMail’s Web3 email solution facilitated Web3 voting for Decrypt Studios’ Crypties Awards 2022, the crypto industry’s premier annual awards initiative, with over 10,000 participants. 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.

Draper Associates has been investing in early-stage venture capital for four generations, and its portfolio includes brands such as Hotmail, EtherScan, Skype, Coinbase, Baidu, Tesla, SpaceX, and Twitch. MS&AD Ventures invests in startups that are at the cutting edge of AI, Big Data, Cybersecurity, Fintech, Insurtech, SaaS, Infrastructure, and Digital Health. The firm uses ‘smart money’ to invest in next-gen solutions that tie in with evolving market trends and have 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.

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.”