August 3rd, 2023, New York, US, — We’re thrilled to announce that zkPass, a privacy-preserving protocol for private data verification, has secured a $2.5 million seed round, marking a significant milestone in our journey. The funding saw substantial participation from renowned investors, including Sequoia China, Binance Labs, OKX Ventures, dao5, SIG DT Investments, Inc., Leland Ventures, Cypher Capital, Blockchain Founders Fund, and others.
This capital injection will supercharge our ambitious roadmap, accelerating the launch of our Pre-alpha Testnet and fueling our team’s expansion by onboarding exceptional developers and cryptography researchers.
zkPass is a privacy-preserving protocol for private data verification. It is built on the foundation of Multi-Party Computation (MPC), Zero-Knowledge Proofs (ZKP), and three-party Transport Layer Security (3P-TLS). zkPass provides TransGate, which enables users to selectively and privately validate their data on any HTTPS website to the web3 world. It can cover various data types such as legal identity, financial records, healthcare information, social interactions, work experience, education and skill certifications, etc. All these types of verifications can be done securely and privately without the need to disclose or upload any sensitive personal data to third parties.
Expressing enthusiasm about this critical development, Bing, Tech Lead of zkPass, stated, “This funding marks our first step into the market, and we extend our heartfelt gratitude to all our early supporters. It provides us with the resources to accelerate protocol development, expand our talented team, and seamlessly integrate private data verification across diverse applications. Our vision is to revolutionize the industry by ensuring heightened privacy and security for all.”
zkPass can be seamlessly integrated into a wide range of application scenarios, including composable decentralized identity passes, DeFi lending protocols relying on off-chain credit, privacy-assured healthcare data marketplaces, and dating apps using verifiable zkSBTs. Wherever trust and privacy are essential, zkPass offers a solution.
This investment will strengthen the development of our protocol. We have already launched a Pre-alpha Testnet and deployed a series of toolkits to enable smooth integration with various trusted data sources on any HTTPS-based website without requiring APIs or licenses. This functionality allows users to authenticate their private data in their browsers in a trustless manner, enhancing the security and privacy of online interactions. We have already received over 190,000 waitlist signups.
As private data becomes increasingly crucial, the demand for privacy-centric, reliable, and seamlessly compatible solutions is soaring. We firmly believe that zkPass will fill this gap and provide a secure environment for both users and businesses. Our vision is to revolutionize how private data is verified online, ensuring heightened privacy, security, and compatibility. This seed funding brings us one step closer to realizing our vision.
About zkPass
zkPass is an advanced privacy-preserving protocol for private data verification. It allows users to securely and selectively validate their data on any HTTPS website, making it highly versatile for various applications, including banking and DeFi lending protocols. zkPass is the ideal solution whenever trust and privacy are essential. More details https://zkpass.org/
zkPass in Figures:
$2,5M raised investments
190,000 waitlist
