Web3 Messaging Infrastructure Notifi Raises $10M Funding Round Co-Led by Hashed, Race Capital

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Notifi, a communications infrastructure platform for Web3, announced on Tuesday that it has raised $10 million in oversubscribed seed funding, co-led by previous backers Hashed and Race Capital. Other investors include Struck Capital, HRT Capital, Wintermute and Temasek-founded Superscrypt, bringing its total funding to $12.5 million.

The 10-month-old startup wants to tackle the broken web3 communication model, which is fragmented across multiple app and messaging platforms like Telegram, Discord and Twitter and across layer 1 and layer 2 blockchain ecosystems Notifi provides communication infrastructure and software development kits (SDKs) for decentralized applications on blockchain platforms with simplified and personalized notifications.

Its platform allows web3 developers to integrate multi-channel communication into their applications without building the infrastructure themselves. “Notifi is similar to Twilio, but unlike Twilio, Notifi has built a web3-native solution for blockchain developers that enables both on-chain and off-chain messaging across multiple Layer 1 ecosystems,” co-founder and CEO of Notifi Paul Kim told TechCrunch.

Kim and Nimesh Amin (CTO), who previously worked at Amazon Web Services and Oracle Cloud, founded Notifi in January. Kim said his team is made up of Web 2.0 infrastructure builders, so they understand the importance of building and running services at scale with reliability, security, and performance.

The startup targets the web3 ecosystem and all addressable Web 2.0 users. “We take a pragmatic approach to solving the right customer and user problem rather than creating something no one asked for,” Kim continued. “That’s why we support both on-chain and off-chain messaging. Not everything has to be decentralized. As Web3 becomes more widespread, the next wave of users will want a simple SMS or email alert when something important happens.

Notifi, which launched its SDKs in April this year, has more than 25 customers, including Orca, one of Solana’s largest DEXs; Zebec, cash management for DAOs; SynFutures, the largest protocol derived from Polygon; Hyperspace, an NFT marketplace; Realms, Solana’s DAO governance platform; and more, Kim said.

Notify will soon launch Notifi Hub, the web3 inbox to consolidate notifications and cross-channel messages into a single hub, which is currently in beta, to provide users with a centralized location to track and manage all their messages and alerts on different blockchains, wallets and dApps.

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Picture credits: NotifiNotifi now supports Solana, NEAR and Ethereum and is expanding to Polygon, Avalanche, Aptos and Sui. The company’s initial launch partners include SynFutures and ZeroSwap on Polygon; Pocket Worlds on Avalanche; Pontem Networks, Aries Market and Ethos Wallet on Aptos and Sui.

The funding will help Notifi extend support to other layer ecosystems and provide developers with more tools to enable an advanced user experience. Additionally, it plans to hire and grow its team to meet the new needs of its product lines, such as notifications as a service, chat as a service, customer relationship management (CRM) and analytics tools for product messaging, and more, Kim said. .

The business may face competition from XMTP and Dialect in the Web3 messaging space. Its differentiator is that Notifi’s product is designed to enable highly customizable experiences that dApps can implement and manage, Kim said, adding that UX developers can offer messaging and notification functionality in their native UI. with a user experience that feels native to their app or platform.

“Paul and Nimesh bring years of infrastructure experience from Amazon Web Services, Microsoft, Oracle and Circle to web3,” said Chris McCann, general partner of Race Capital. “At Race Capital, we couldn’t be more excited to partner with them in this new round of seed funding and support them in their mission to empower all web3 builders to better communicate and interact with their users.”

“Notifi has a bold vision to make communication as easy to set up and maintain as a web application,” said Hashed partner Baek Kim. “They have built a smart and intuitive interface that simplifies the extreme complexities involved in building cross-chain messaging and has received many early accolades from layer 1 blockchains and web3 developers.”

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