We're thrilled to announce that Solokey, a crypto password manager designed to make crypto simple and secure for all, has raised $3.75 million in funding from leading investors Seven Seven Six and Kindred Ventures, with participation from influential web3 angels.

Solokey's mission is to eliminate the biggest barriers preventing mainstream adoption of cryptocurrency and web3 applications: cumbersome security and complex user experiences. We're building the best homepage and simplest way to securely store and manage all your crypto wallets and accounts.

Our solution combines military-grade encryption, powerful and flexible recovery options, Passkey support, and intuitive phone-number-based accounts for a truly passwordless experience. Your encrypted recovery phrases and private keys get backed up to the cloud, but can only be decrypted by you – not even Solokey can access them. This helps you self-custody your crypto safely without risking accidental loss or lockout.

The $3.75M seed round was led by Seven Seven Six and Kindred Ventures, with participation from angels such as Trevor McFedries (Founder of Friends with Benefits, former CEO at Dapper Labs), Zach Abrams (Founder of bridge.xyz, former CPO at Brex & Coinbase), David Rosenberg (VP at Snap), David McIntyre (Head of Finance at Solana Foundation), Nashilu Mouen (Head of Storytelling at Arc Browser), Jisi Guo (Head of Design at Phantom Wallet), Josiah Gulden (Head of Design at Compound Labs), and more. The funding will fuel product development, partnerships with consumer wallet apps, key hires, and our mission to make web3 accessible to everyone.

Solokey was founded by Mario Gomez-Hall, a Latino entrepreneur, after leading teams at Square, Lyft, and Saturn that focused on simplifying complex products for mainstream users. The Solokey team includes talented engineers and designers from companies including Uber, Amazon, Meta, Tesla, Hopper, and Lattice – bringing deep expertise in building seamless user experiences at scale. Prior to starting Solokey, Gomez-Hall co-founded Cymbal, a music social network that raised $1.1M while at Tufts University in Boston. In building social and fintech products used by millions, he saw how poor security and fragmented experiences created confusion and locked people out of their accounts and money. With web3, the stakes are even higher.

The crypto and web3 space has seen incredible growth and innovation, but user experiences remain fragmented, complex, and insecure for most people. Seed phrases, private keys, and apps connected to wallets create legitimate fears of lockout or irreversible loss. This has prevented mass adoption beyond crypto-natives.

Meanwhile, major platforms like Apple, Google, Microsoft and leading standards bodies have coalesced around secure, user-friendly authentication standards like Passkeys built on WebAuthn. This finally makes it possible to deliver the holy grail: self-custody without self-sabotage.

Solokey is perfectly timed to bridge crypto's usability gap using these new secure authentication standards, combined with intuitive key backup and recovery flows. We're building the homepage for web3 - a unified place to manage all your wallets, trade, swap, explore apps and guard access to your entire crypto universe.

We believe crypto's bright future depends on delivering experiences that are simple, intuitive and feel safe for regular people. Those passionate about making web3 accessible can sign up for early access at https://solokey.com, or download on the Apple App Store at https://apple.co/4cZROZl.

More product details and the public roadmap will be shared soon. For now, we thank our seed investors for backing our vision and embarking on this journey together. We aim to get our solution in users' hands starting today to finally make web3 accessible for everyone.