Privy Raises $18M in Series A Funding for API Development in Consumer Crypto Products

Privy, a New York-based company that builds APIs for developers to onboard users to consumer crypto products, has secured $18 million in Series A funding. The funding round was led by Paradigm, with participation from existing investors such as Sequoia Capital, BlueYard Capital, and Archetype. The company plans to use the funds to expand its operations and development efforts. Privy's infrastructure processes millions of transactions every month and has onboarded over one million users to onchain products across various industries. The company's SDK offers authentication flows that enable developers to onboard consumers quickly.