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Layer3 Raises $15M in Series A Funding


Layer3, a developer of an identity and distribution protocol, raised $15M in Series A funding.

The round, which brought the total amount to $21.2M, was led by ParaFi & Greenfield Capital, with participation from Electric Capital, King River, Immutable, Lattice, Tioga, LeadBlock Bitpanda Ventures, Amber, Stateless, and GD1.

The company intends to use the funds to expand operations and its development efforts.

Layer3 is advancing an omnichain identity and distribution protocol where crypto consumers discover new projects, and projects reward their onchain activity. By aggregating user activity across multiple chains and dApps, the protocol generates a view of a user’s onchain identity and enables targeted, efficient distribution of tokens. Projects building on it can programmatically route tokens to the right users at the right time based on a variety of criteria like temporal triggers, asset ownership, onchain activity, credentials, social graph, and quest engagement. 

Uniswap, Base, Arbitrum, Linea, Polygon, Gnosis, Celo, and other crypto teams are using Layer3’s distribution infrastructure. The platform has served over 3 million users in 120 countries to date and its distribution protocol supports 25 different blockchains across the EVM and Solana ecosystem. 

The company also raised a previously unannounced strategic round of $3.7M in 2022 from Electric, Lattice, ThirdPrime, ParaFi, and Sandeep Nailwal, and a $2.5M round in 2021, bringing total funds raised to $21.2M.