Decrypt raises $10M for publication covering the crypto economy
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Decrypt, a media company demystifying crypto and the decentralized web, has raised $10 million in funding as it spins out from blockchain accelerator ConsenSys Mesh.
Decrypt also has a production arm Decrypt Studios, a web 3 studio specializing in metaverse activations. Decrypt raised the funding round on a $50 million post-money valuation.
The infusion of capital comes from more than 15 investors, including venture capital firms, decentralized autonomous organizations (DAOs), web 3 organizations, and angels, in keeping with Decrypt’s mission of progressive decentralization as it goes independent.
Decrypt was cofounded by magazine veteran Josh Quittner (Time), Ilan Hazan, and Ryan Bubinski during the “crypto winter” of 2018. It was launched inside the ConsenSys Mesh incubator program with the aim of helping the world understand crypto and web 3 and has since grown to 6 million average monthly unique visitors and 27 full-time employees.
In 2021, the publication brought on Dan Roberts (Yahoo Finance, Fortune) as editor-in-chief, Jeff John Roberts (Fortune) as executive editor, and journalists from ABC News and The Street.
Veteran media and technology executive Alanna Roazzi-Laforet (Condé Nast, IAB), who joined as publisher and chief revenue officer, launched the company’s production arm Decrypt Studios, a new breed of Web3 studio that partners with brands and creators to curate NFT and metaverse activations.
“The first three years of Decrypt were foundational, and ConsenSys Mesh gave us all the support we needed to grow without the pressures that often come from being investor-backed,” said Quittner, in a statement. “With
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