Cybersecurity company GoPlus is working to improve security in the Web3 space with $10 million in funding from OKX, Hashkey, Amonica, and more.
GoPlus, a cybersecurity firm on the Web3, has secured $10 million in a private financing round. This round attracted the attention of prominent crypto investors, such as OKX Ventures, HashKey Capital, and Animoca Brands.
On Wednesday, the multichain security solutions provider, previously known as Twitter, announced that it is attempting to meet the heightened demand from ecosystems that utilize newer technology in the rapidly expanding Web3 sector.
GoPlus will establish a security layer that is both permissionless and modular, ensuring that it is seamlessly integrated into any blockchain network. The platform is dedicated to ensuring that users feel secure while safeguarding against potential threats in today’s constantly evolving cyber landscape.
The whitepaper asserts that the security layer as a whole aims to offer comprehensive protection throughout the user transaction lifecycle by utilizing a decentralized User Security Network and cutting-edge AI-powered security solutions to conduct in-depth risk analyses and deliver efficient security services.
GoPlus aims to implement a token to enhance and expand this security layer. This token would primarily pay for petroleum fees, encouraging developers to engage with GoPlus services in a secure and collaborative environment. X was the medium through which GoPlus communicated its enthusiasm and gratitude:
“We are overjoyed to share that GoPlus Security has successfully raised $10M in a private round to build a modular user security layer for Web3! A huge thank you to our incredible backers! Together, we will build a safe Web3 for all users. Onwards and upwards we buidl.”
User Engagement and Exponential Growth
GoPlus has experienced exponential growth over the past few years. The utilization of user security information has increased by over 5,000 times since 2022, and API calls have reached an astonishing 21 million per day.
The firm’s whitepaper asserts that these growth figures indicate increased user trust and engagement. This assertion is further substantiated by the successful introduction of SecWareX, GoPlus Network’s innovative Web3 user security product, in March 2024.
In an X post, 26x14eth, the co-founder of 7UpDAO, one of the firms involved in the funding round of GoPlus, emphasized the project’s potential:
“Go Plus holds a crucial spot in the security space, proving its industry value with a reasonable valuation and not High FDV. The founding team comes from traditional internet backgrounds and delivers solid products and tech. They’re patient, persistent, and have big ambitions.”
GoPlus has collaborated on numerous RPCs, Rollups, and RaaS initiatives and supported over 20 blockchain networks. It constructed its innovative solutions, the SecScan security engine and the SecWare protocol, on an open security data and computing layer.
It is crucial to mention that in late May, SushiSwap (SUSHI) implemented GoPlus’ “Token Security API” to protect users’ assets and foster community trust, enabling early detection of potential threats.