Series A Funding Secures $12.5M for zkPass to Drive zkTLS Oracle Protocol

zkPass announces the upgrade of zkTLS protocol, expanding secure data-sharing capabilities across Web3 ecosystems

NEW YORK, Oct. 21, 2024 /PRNewswire/ -- zkPass, an oracle protocol enabling verifiable web private data, today announced the successful completion of a $12.5M Series A funding round. Investors include dao5, CE Innovation Capital, Animoca Brands, L2 Iterative Ventures (L2IV), UOB Venture Management, Flow Traders, Amber Group, Leland Ventures, IOBC Capital, Signum Capital, Bing Ventures, MH Ventures, WAGMI Ventures, Taisu Ventures, Ceras Ventures, GCR, and others, all recognizing zkPass's transformative technology. This brings zkPass's total funding to $15M to date.

"zkPass's approach to privacy-focused data sharing is a major advancement for both the Web3 and traditional finance ecosystems. By ensuring secure, verifiable data exchange with their zkTLS protocol, zkPass presents new global opportunities for individuals and businesses. We are proud to support zkPass in their mission to empower millions with privacy-preserving solutions that will drive greater adoption and inclusion in the digital economy." Aly Madhavji, Managing Partner, Blockchain Founders Fund.

The capital will accelerate the development and adoption of zkTLS, zkPass's cutting-edge oracle solution designed to revolutionize secure cross-ecosystem data exchange through advanced cryptography.

Over 200 schemas from 70+ verified web data sources are now available on zkPass. With zkTLS, users can generate Zero-Knowledge Proofs (ZKPs) of private data directly in their browsers within one second, ensuring both privacy and integrity. As of October 2024, more than 2 million zk attestations have been generated across categories, including financial institutions, e-commerce, social media, and online education.

"We are excited to back zkPass, a leader in privacy-focused oracle protocols," said Michael Lie, Flow Traders' Global Head of Digital Assets. "By leveraging zero-knowledge technology, zkPass brings secure data verification, privacy, and authenticity to both TradFi and DeFi sectors."

zkPass deployed the zkTLS framework, which combines 3P-TLS and Hybrid ZK technologies, to create a secure, Prover-centric private data-sharing solution. This protocol allows users to selectively prove various types of data - such as legal identity, financial records, and healthcare information - while ensuring that sensitive personal information remains confidential and verifiable on-chain and off-chain.

By integrating advanced cryptographic methods, zkTLS ensures that users' private data can be securely shared with decentralized applications without revealing sensitive details.

With zkTLS, zkPass is positioned to bridge the gap between Web2 and Web3, enabling the integration of substantial amounts of private data from traditional internet sources into decentralized applications at scale. This technology has broad applications across AI, DePIN, DID, lending, and other financial and non-financial sectors and is poised to reshape the business models of internet data sources.

"We deeply appreciate the trust and support from our investors as we work to position zkTLS at the forefront of Web3 innovation," said Bing, Co-founder and CTO of zkPass." This funding will allow us to accelerate our technology development and focus on driving market adoption. After over two years of dedicated work, we are excited to bring zkTLS to real-world applications and demonstrate its potential to the broader community."

Following a $2.5M seed round closed last year, this funding round's successful completion underscores the increasing demand for secure, privacy-preserving solutions in the rapidly evolving Web3 landscape. zkPass remains committed to delivering a robust and scalable zkTLS protocol, empowering users with control over their data while opening up new possibilities for decentralized applications.

About zkPass: zkPass is an Oracle protocol that verifies web private data. Built on zkTLS, composed of 3P-TLS and Hybrid ZK technologies, zkPass provides tools and applications for secure, verifiable data sharing with privacy and integrity assurances from any HTTPS website without requiring OAuth APIs. Learn more at https://zkpass.org/.

SOURCE Zkpass