Absolute Labs, the first-ever Wallet Relationship Management (WRM) platform, has raised $8 million in seed funding round. The round was participated in by a range of investors, including Aglaé Ventures, Alpha Praetorian Capital, The Luxury Fund, Near Foundation, MoonPay, Plassa Capital, Punja Global Ventures, Samsung Next, Sparkle Ventures (Animoca Brands), and W3i.
Absolute Labs’ WRM platform is already trusted by several leading brands such as LVMH, MoonPay, The Sandbox, and Mocaverse (Animoca Brands) to help them leverage wallet data on public blockchains to gain valuable insights, build actionable segments, and automate cross-channel campaigns, among other benefits.
According to Samir Addamine, CEO, and Co-founder of Absolute Labs, the WRM™ platform was born from the realization that existing Web2 CRM solutions were not capable of meeting the requirements and opportunities of blockchain-based marketing.
He added that wallets hold the keys to everything Web3, including proving identity, providing access to value-rich brand experiences, facilitating payments, and creating ownership opportunities for customers.
Absolute Labs’ partnership with Aglaé Ventures was commended by Vanessa Grellet, Managing Partner at Aglaé Ventures, who said that the platform’s innovative ways of leveraging data analytics, CRM, and marketing automation supported the adoption of Web3 and created opportunities for brand engagement.
Franck Le Moal, Chief Information Officer of LVMH, also expressed his delight in working with Absolute Labs to explore Web3 data and how it could enhance client experience. Meanwhile, Julien Pageaud of Sparkle Ventures said that Absolute Labs’ WRM platform promised to provide an intuitive pathway for leading brands and emerging companies to engage with the growing number of Web3 customers.
Abhay Mav, Head of Moonpay Ventures, also praised Absolute Labs’ vision of the WRM™ platform, saying that it aligned strongly with their mission of making it easier for millions of users to experience Web3 and onboard a billion users to Web3.
Quentin Reyes, Managing Director of Alpha Praetorian Capital, also lauded Absolute Labs’ Web3 CRM software, saying that it was poised to address a critical need in the market, given the rise of decentralized communities. He added that Absolute Labs had the vision and expertise to deliver on this promise and revolutionize the way companies engage with their customers.
With this Seed fundraising round, Absolute Labs is now better positioned to help brands acquire, engage, convert, and retain customers in the next Internet using their innovative WRM platform.