Steven Bartlett’s Web3 developer platform, thirdweb, raises $24M Series A round, with $160M valuation

thirdweb, the groundbreaking technology platform for building NFT and Web3 apps, has closed a $24 million in Series A funding at a $160 million valuation. The round was led by Haun Ventures, Coinbase Ventures, Shopify and Polygon. thirdweb will use the funding to accelerate platform development to meet increasing demand, add support for additional blockchains and grow the user base by onboarding hundreds of thousands of new brands, individuals and creators, driving mainstream adoption of Web3.

Founded in 2021 by Steven Bartlett and Furqan Rydhan with a seed funding round of $5 million, from 20+ industry entrepreneurs including Gary Vaynerchuck and Mark Cuban, thirdweb is building the infrastructure layer for Web3. The platform empowers users to unlock a full stack Web3 development kit to significantly reduce the time and cost required to build and launch applications. thirdweb facilitates the creation of Web3 apps across the most-popular blockchains, including blockchain games, NFT drops, DAOs, token gated membership clubs and more.

thirdweb’s fast-paced growth trajectory is a result of bridging access to powerful Web3 tools, in an inherently fragmented space. The funding will allow the business to focus on adding new value to the platform’s existing users as well as expand user verticals.

“Web3 is the most important technological shift I’ve witnessed in my lifetime. We built thirdweb to give the builders that are creating this next iteration of the internet the tools they need to be successful, and when they are successful, the world as we know it will be remarkably different – remarkably better. I don’t think anybody quite realizes how much Web3 is going to change the world.” said Steven Bartlett, co-founder of thirdweb.

“I backed thirdweb because I believe they have the talent, tenacity and vision to create the infrastructure layer for Web3. Web3 is going to revolutionise multiple industries – thirdweb’s platform will enable that revolution” said Gary Vaynerchuck, founder and CEO of Vayner/RSE who previously backed thirdweb.

In just 9 months, over 55,000 developers have used thirdweb’s tools to build NFT drops and other web3 applications. Over 150,000 smart contracts have been deployed across 6 different blockchains, and every week thirdweb projects generate over $1.5m in revenue.

“I’ve built internet companies in Web1 and Web2 and I’m seeing the same patterns in web3 which suggest this is going to transform the internet as we know it. thirdweb is building the infrastructure layer for web3, giving builders the tools to unlock the power of blockchain technology and accelerating them as they build the next world-changing companies. We’re excited to expand our vision further and onboard the next 10 million developers onto web3,” said Furqan Rydan, founder of thirdweb.

“Our mission is to accelerate the next generation of the internet and we believe thirdweb will play a critical role in realizing that. As complexity to develop in web3 continues to increase, the experienced team at thirdweb led by Furqan and Steven have built an elegant solution that allows developers to build fast while avoiding costly mistakes. I’m pleased to see proven founders of this caliber dedicating their next chapter to crypto and look forward to supporting their efforts” — Katie Haun, founder and CEO of Haun Ventures

Global brands like 100Thieves, Afterpay and New York Fashion Week are using thirdweb to power their web3 launches. thirdweb also recently announced a partnership with Coinbase’s NFT marketplace to provide the technical infrastructure for their artist’s NFT drops.