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Privy plans to use the received capital to double its team size from 25 to 50 employees within 18 months, with hiring focused on product, engineering, legal and go-to-market teams
Privy has raised $15 million in a funding round led by Ribbit Capital
Privy has over 50 million accounts integrated across DeFi, payments, gaming and social applications, supporting prominent Web3 platforms like trading platform Hyperliquid, social protocol Farcaster, NFT marketplace OpenSea and payment app Blackbird
Sequoia Capital, along with Paradigm, BlueYard and Coinbase, participated in Privy’s funding round, though its valuation remains undisclosed
Privy provides developers with application programming interfaces (APIs) that allow businesses to integrate crypto wallet functionalities into applications, making it easier for users to buy, sell and hold cryptocurrencies without dealing with blockchain complexities
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Privy had previously raised $18 million in a 2023 Series A round led by Paradigm and $8.3 million in a 2022 seed round co-led by Sequoia Capital and BlueYard

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