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Funding
Farcaster secures USD 150 million in funding round for operations and recruitment
Web3 Ecosystem
May 21, 2024
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Web3 Ecosystem

May 21, 2024

Farcaster secures USD 150 million in funding round for operations and recruitment

Funding

  • Farcaster, a blockchain-based social media company, has successfully raised USD 150 million in a funding round led by Paradigm, with participation from a16z, Haun, USV, Variant, and Standard Crypto.

  • The company aims to use the funds for recruitment and operations.

  • Established in 2020, Farcaster is a social networking platform deployed on Optimism . The platform allows users to set up profiles, publish “casts," and follow other users. It was launched in October 2023 and has recorded over 350,000 paid signups, with network activity improving 50x over time.

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