Privy provides wallet infrastructure and application programming interfaces (APIs) for developers to manage and integrate user data and on‑chain functions, enabling businesses to offer crypto services to end users. The company positions its product as a way to make it easy for developers to build seamless, secure experiences on crypto rails. Privy said the new capital will be used to develop crypto onboarding rails and further its API offerings. The company announced an estimated $15 million investment that takes its total funding to over $40 million. According to Tracxn data cited in the article, Privy had previously raised $26.3 million across its first two rounds, placing the latest investment in the region of $15 million. Privy did not disclose its valuation in the new round. Privy builds APIs and an SDK that let developers onboard users to consumer crypto products by safely leveraging off-chain data and providing wallet-agnostic user sessions across web3 experiences. Its SDK couples wallet connectors and self-custodial embedded wallets to enable fast authentication flows for consumers. Privy’s infrastructure processes millions of transactions every month and recorded over 10 billion RPC requests in the last two months. The company has onboarded more than one million users to onchain products across industries including restaurant loyalty, biotech research, creator platforms, and gaming, and counts customers such as Friendtech, Blackbird, and Courtyard. Privy intends to use the funds to expand operations and accelerate its development efforts. Privy builds simple APIs that enable developers to manage user data privately in Web3 by encrypting data end-to-end and associating it with on-chain addresses. The platform lets apps encrypt user data from front ends and bypass developers' stacks so sensitive information is not stored on a developer's infrastructure. Privy offers data vaults that keep user data under users' control and supports use cases like texting or emailing users without handling PII, taking on financial and compliance data without storing it, and surfacing a unified UI across wallets and chains. The company positions its tooling as a bridge between off-chain personal data and the transparent on-chain world, addressing risks like doxxing and the long-term fragility of ciphers. Privy plans to use the new capital to grow its team, scale its APIs, and build partnerships to help developers create more private Web3 products.

Total raised

$41M

Funding rounds

3

Latest round

Equity

Latest activity

Mar 2025