Shield is a security company that is focused on protecting users from online scams. The company recently announced it has raised $2.1 million in pre-seed funding from Kraken Ventures, Eterna Capital, Alchemy, Moonpay, and several leading security investors.
Other investors in the pre-seed round include Bessemer Ventures DAO (Steel DAO), Orange DAO (1400+ YCombinator Alumni), NGC, Wagmi Ventures, MH Ventures, Coinswitch, 2Punks Capital, Lecca Ventures, and Very Serious Ventures. Also joining the round are angel investors Rob Behnke (CEO of Halborn—a leading crypto security auditing company), Peter Liebert (former CISO of the State of California), Vijay Maharajan (Bitscrunch founder preventing crypto wash trading), and angels from Coinbase, Google, Microsoft, and FireEye (merged with McAfee).
Co-founded by Luis Carchi (Princeton University, Ex-Facebook), Isaiah Udotong (MIT, Y-Combinator alumni), and Emmanuel Udotong (Princeton University, ex-McKinsey), Shield has a goal of disrupting internet security by developing products that encourage growth and innovation while maintaining high-security standards. Plus Shield helps organizations adopt comprehensive security measures for preventing crypto exploits and increasing user trust across the ecosystem.
While surveying the crypto security landscape, smart contracts have been a major focus. But 1 in 3 crypto attacks are not related to contracts and instead are triggered by compromised private keys or front-end spoofing. So auditing and monitoring your smart contract alone is not enough. In order to fill the gap, Shield is developing automated protections against frequently neglected attack vectors.
Shield’s security stack can be integrated into any product via the API and protects 350,000+ users while boasting notable clients like Fox Sports, Rarible, and Guild.xyz. And Shield’s threat detection software can be integrated directly onto any platform via our API or within Discord as a security bot for online communities. And the security stack protects 350,000+ users and boasts notable users like Fox Sports and Rarible. And on Guild.xyz’s platform, Shield is one of the most frequently used integrations for thousands of communities.
The company’s goal is to shield millions of organizations and consumers from crypto exploits. And the company is building a blockchain-native endpoint security stack, Norton Antivirus for crypto. Battling cybercrime is a game of whack-a-mole: after one problem is solved, bad actors find another angle. So they are hyper-focused on building the best team and technology possible to address emerging threats of the future.
KEY QUOTES:
“Thanks to Shield’s guidance, we’ve fortified our cybersecurity measures by amplifying Discord safeguards and bolstering security in our software development pipeline, to better safeguard our company and the communities we serve.”
- Leading NFT launchpad HeyMint co-founder Nate Broughton
“Shield helped us work through multiple checks such as penetration testing, anti-malware & phishing protection to prove our team’s commitment to keeping people safe with our product.”
- Super app wallet Castle Wallet co-founder Stephen Song
“Shield’s innovative security tools have the potential to become the new standard for enabling web3 communities to build trust and confidence among their members.”
- Paul Almasi, the Head of Alchemy Ventures
