Spruce Raises $7.5 million to Scale Decentralized Identity and Storage
We are excited to announce that we have raised $7.5 million in a round led by Ethereal Ventures and Electric Capital. At Spruce, we believe that users should have more ownership over their digital selves.
We are excited to announce that we have raised $7.5 million in a round led by Ethereal Ventures and Electric Capital. At Spruce, we believe that users should have more ownership over their digital selves. We are committed to building the foundational layers of the Web3 ecosystem, which encompasses a myriad of use cases relating to portable data storage, user controlled keys, and open platforms.
The ethos of user owned and controlled networks creates strong latent demand for self sovereign identity and storage, which Spruce exists to create.
We will be scaling up efforts on SpruceID, our open source toolkit for decentralized identity, and Kepler, our decentralized and permissioned storage solution. Our cross-chain SpruceID toolkit is used by many projects across various L1 ecosystems and applications, to unlock new functionality for blockchain accounts by letting them sign to access off-chain resources, issue credentials, and much more.
Kepler enables users to store and share their data with others in a self-sovereign manner, all by using their existing Web3 wallets. We are tailoring both products to meet users where they are today, for example, by driving the community effort Sign-In with Ethereum and enabling users to access their public profiles on ENS and their private data vaults hosted on Kepler.
Our Supporters
To help bring this goal into reality, we're also excited to announce that our leads were joined by an incredible group of backers including BITKRAFT, Coinbase Ventures, Alameda Research, A.Capital Ventures, SV Angel, Protocol Labs, Future Positive, Third Kind Venture Capital, and Gemini Frontier Fund. They are also joined by Jutta Steiner, Lily Liu, Yun-Fang Juan, Jaynti Kanani, Maya Zehavi, Joseph Eagan, Ben Chan, and Ken Ng.
We look forward to working with our backers who share Spruce’s vision of giving users full control of their identity and data. Our current plans include growing the Spruce team, continuing to work on our products, and building partnerships across the Web3 ecosystem.
If you’re interested in working on the future of user-controlled identity and data, we’re hiring! Check out our openings here. If you’re interested in partnering on use cases around decentralized identity and storage, contact us here or chat with us in our discord!
Spruce lets users control their data across the web. Through SpruceID and Kepler, Spruce provides an ecosystem of open source tools for developers that let users collect their data in one place that they control, and show their cards however they want. If you're curious about integrating Spruce's technology into your project, come chat with us in our Discord:
