Quick take:
- The latest funding brings the total raised to $17 million, according to Lyron Co Ting Keh, Seismic founder and CEO.
- The announcement comes at a time when blockchain users are becoming more conscious about the safety of their data, according to a recent report by a16z crypto.
- Seismic plans to use the fresh capital to expand its offerings, like on-and-off ramping from fiat into crypto and card programs.
Seismic, a Web3 security startup, has raised $10 million in a funding round led by Andreessen Horowitz crypto investment arm, a16z crypto. The fundraising also attracted participation from Polychain, Amber Group, TrueBridge, dao5, and LayerZero, the founder and CEO, Lyron Co Ting Keh, told Fortune on Wednesday.
The latest round brings the total raised to $17 million, following a $7 million seed round announced in March, also led by a16z crypto. However, Co Ting Keh declined to disclose the company’s valuation, according to Fortune. “We know we’re extremely grounded,” he said. “And we hope to be extremely valuable.”
The announcement comes at a time when blockchain users are becoming more conscious about the safety of their data, according to a recent report by a16z crypto.
Seismic plans to use the fresh capital to expand its offerings, like on-and-off ramping from fiat into crypto and card programs.
Seismic takes a more hands-on approach to helping its clients compared to its rivals, says Co Ting Keh. “First, [the team] aims to be boots on the ground and intimately know the needs of its customers,” he said, explaining why the team chose the name Seismic. “Second, Seismic means huge,” which is ultimately what the company views itself as in the future.
Seismic has already sealed partnerships with some of the leading fintech companies, including the private credit service provider Cred and a fintech company called Brookwell, which provides customers with stablecoin accounts, eliminating the need to store it in a bank account.
Brookwell ensures customer data is not leaked publicly by passing transactions through Seismic’s private blockchain rails, explained Co Ting Keh.
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