San Francisco-based crypto security firm Webacy has a knack for attracting famous investors. In 2023, Internet personality Gary Vaynerchuk participated in the startup’s $4 million seed round, alongside firms like Mozilla. On Monday, Webacy announced another funding round, this time with longtime crypto thought leader and former Coinbase CTO Balaji Srinivasan participating. The Sui Foundation and crypto market maker GSR joined Balaji in the new $2.9 million capital raise.
(Former Microsoft cybersecurity engineer Maika Isogawa is the CEO and co-founder of crypto security startup, Webacy. / EthCC)
The first six months of the year saw more than $3 billion worth of crypto fall into the hands of malicious hackers, according to Webacy’s release, shared with Bitcoin.com. The firm has been building technology to curb the exploits and hacks that run rampant in the industry. Webacy’s long-term goal is to build risk intelligence systems that prevent thefts and attacks by taking advantage of machine learning to detect patterns that reveal sophisticated schemes such as price manipulation and address poisoning.
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Besides scoring big names such as Vaynerchuk and Balaji, the firm also announced its acquisition of smart contract risk analytics startup Trugard Labs in a transaction backed by Evolution Equity Partners. And now, with institutional capital streaming into digital assets and catapulting crypto’s market cap above $4 trillion in October, Webacy wants to ensure the fledgling industry is ready for prime time, at least from a security perspective.
“Our investors represent the full spectrum of crypto infrastructure, from market makers to Layer 1 foundations to visionary builders, all aligned on the need for continuous, intelligent risk prevention,” said Webacy CEO and co-founder Maika Isogawa, a former Microsoft cybersecurity engineer. “This capital validates what the market is demanding.”
Webacy wants to “secure the next trillion in digital assets,” but right now the actual number is closer to $30 billion, according to the company. That’s a long way from its lofty target, but still a respectable number in its own right. The firm counts flagship names such as Arbitrum, Etherscan, and Stellar among its clients. The Trugard acquisition will broaden Webacy’s capabilities to include the ability to identify malicious activity via behavioral analysis alone, even when smart contract code can’t be reviewed directly. The firm also says the funds raised in the current round will go towards infrastructure improvements and marketing.
“As digital assets become the backbone of global finance, this kind of AI-powered security becomes essential infrastructure for trust itself,” Balaji said. “Webacy turns blockchain transparency into actionable intelligence, detecting behavioral patterns and threats invisible to human auditors.”
- What does Webacy do?
Webacy provides artificial intelligence (AI)-powered risk intelligence tools that help wallets, exchanges, and protocols detect and prevent digital asset theft and fraud. - Why is Webacy raising new funding now?
The firm says institutional crypto adoption and growing security threats require more advanced infrastructure to protect the next wave of assets entering the ecosystem. - Who invested in Webacy’s latest round?
Balaji Srinivasan, the Sui Foundation, and GSR joined the company’s new $2.9 million funding round. - How will Webacy use its new capital and Trugard Labs acquisition?
The startup plans to expand behavioral-based threat detection, strengthen its infrastructure, and scale security services for clients like Arbitrum, Etherscan, and Stellar.
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