Web3 email communication startup EtherMail has raised $3 million in a seed funding round led by top VCs Fabric Ventures and Greenfield One.
EtherMail is the first Web 3.0 Email Solution which aims to enable anonymous and encrypted wallet-to-wallet communication to 200 million users globally. With EtherMail, companies can send rich, relevant content directly to their asset holders based on blockchain-synced real time information. EtherMail also allows fully anonymous P2P communication and rewards its users for reading relevant content in their inbox.
The funding will be used for team expansion and to accelerate solution testing as the company gears up for the Q3 release of its encrypted wallet-to-wallet email communication solution, which has already received thousands of pre-registrations.
Founded by serial entrepreneurs Shant Kevonian and Gerald Heydenreich in late 2021, EtherMail is the only tool in the Web 3.0 space allowing web3 companies to send rich, relevant content directly to their asset holders based on blockchain-synced real-time information.
The solution also helps companies to proactively mitigate the risk of communication fraud by preemptively informing users of breaches and vulnerabilities, while also enabling self-updating mailing lists for community newsletter distribution based on up-to-the-minute smart contract data.
EtherMail will be introducing its native utility token, $EMT early next year. $EMT will be an ERC-20 token based on the Ethereum network. This token will be a first-of-its-kind incentivization mechanism designed to reward email users for their time and attention reading unsolicited emails, creating a much-needed framework for email economics. It is estimated that 320 billion emails are sent worldwide daily – a figure that continues to grow annually.
In addition to rewarding users, EtherMail is also focused on data privacy with end-to-end encryption which is one of the most pressing issues in today’s society. The EtherMail team views the Web 3.0 era as an opportunity to re-calibrate the email inbox power equation to be completely privacy-centric. Gartner has forecast that 60% of large organizations will use one or more privacy-enhancing computation techniques by 2025.
Shant Kevonian, CEO and Co-founder of EtherMail said:
“This seed round represents a strong seal of approval for the unique EtherMail value proposition, and will help us showcase our distinct solution – which can be used by any user and any mail client – to a wide range of companies within the burgeoning blockchain space. We are providing a robust communication bridge from Web 2.0 to Web 3.0, and have already attracted interest from top platforms who want to explore partnership synergies. Watch this space.”
Gerald Heydenreich, Co-founder of EtherMail said:
“Given the frequency with which holders sell their crypto and NFTs, it is extremely difficult for projects to maintain direct contact with holders of their assets. We are at the vanguard of innovation when it comes to wallet-to-wallet communication, and are building a category-leading solution that will redefine email for the Web 3.0 era – completely user-centric, secure, and anonymous. Think of gmail plus mailchimp plus blockchain that is Ethermail!”
Julien Thevenard, Associate at Fabric Ventures said:
“Web3 applications and communities rely on a range of centralized communication channels from Discord to Telegram, which unfortunately are still prone to exploits or phishing. EtherMail’s mission to become the Web3 native email has the potential to address this phishing challenge by tapping into blockchain’s security to authenticate the sender. We are aligned with this vision and are happy to be supporting the team on their vision to build the most convenient communication tool for all Web3 users.”
Jascha Samadi, founding partner at Greenfield One said:
“EtherMail enables any project team with highly creative and customized ways of directly interacting and engaging with their users and token holders. The design space for potential use-cases is extremely large given the richness of on-chain data which is growing every day. Many of our portfolio companies would benefit from EtherMail’s encrypted email solution to better reach and scale their audience towards the mainstream.”
Rene Reinsberg, the founder of Celo, also invested in EtherMail’s recent fundraising round and the EtherMail team will be adding more industry insiders and advisors in the coming months, in preparation for the official launch in Q3. Pre-registration is already open and a basic version of EtherMail is available here.
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