Domain name company raises funds for its ambitious DomainFi ecosystem.
Domain name company D3 Global announced today that it has raised a $25 million Series A funding round.
The round was led by Paradigm with investments from Coinbase Ventures, Dharmesh Shah, the founder of HubSpot, and Richard Kirkendall, CEO of Namecheap, among others.
D3 is trying to combine traditional DNS with blockchain technology in what it calls “DomainFi,” a decentralized finance layer it says will accelerate the growth of domains.
Fred Hsu, CEO of D3, explained his vision in Domain Name Wire Podcast #508 in November.
The company also announced the Doma Protocol, a blockchain that transforms existing and future domains into a modern form of digital real estate.
In addition to building out technology, the funding should help the company prepare to apply for domain names in ICANN’s next round of top level domain expansion.
D3 previously raised $5 million in a seed round that included Paul Stahura, co-founder of new top level domain company Identity Digital.
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