Massive Raises $ 11 Million in Seed Funding from Point72 Ventures to Bring New Business Model to the Internet

Coinbase Ventures and BlockTower Capital also participated. The funding will be used to double the engineering and business development workforce, scale to millions of users, and form the world’s most powerful distributed supercomputer.

NEW YORK, November 30, 2021 / PRNewswire / – Massive, a fully remote startup that gives users a new way to pay for digital applications and services by sharing a small amount of their computers’ idle processing power, today announced it has increased $ 11 million in seed funding. The round was led by Point72 Ventures with participation from Coinbase Ventures, Kraken Ventures, BlockTower Capital and CoinShares Ventures. Angel investors in this cycle include Ryan selkis from Messari, Prabhakar Reddy from FalconX, Sriram Krishnan of Kearny Jackson, and Packy mccormick of Not boring. Massive already high $ 1.5 million pre-seed funding from Launch, Hustle Fund and an angel investor Brad Burnham by Union Square Ventures.

Massive

The company offers a more user-friendly and better alternative to ads, which cost users personal attention and valuable data while generating low revenue per user, and paywalls, which are often unaffordable and result in low conversion rates. Massive was founded in 2018 by CEO Jason Graduate and CTO Brian kennish. Jason was one of the top sellers at Yelp and went on to found two successful venture capital-backed startups in fintech and consumer healthcare, Cheerful Giving (acquired by Goodworld) and RCVR ( acquired by Palmetto Harmony). Brian was an engineer before the IPO at Google, where he worked on Chrome browser and development products, and has since developed seven apps with over a million active users each, including privacy apps. Disconnect (anti-tracking software included with most major browsers and installed on devices with approximately one billion users) and Adblock Fast (an ad blocker with over ten million users).

“We believe Massive will become a widely used monetization method for application developers and the world’s most powerful distributed supercomputer,” said Jason Graduate, co-founder and CEO of Massive. “We couldn’t be happier to welcome this group of investors who will help us create a new standard for Internet payments.”

“So far, dozens of developers are working with Massive to enable their millions of users to choose to pay for premium features with remaining compute capacity instead of personal attention and data consumed by ads.” , said Brian kennish, co-founder and CTO of Massive. “We are excited to continue to contribute to a model for making money and paying online that can finally be a sustainable alternative to online advertising.”

Advertising, in addition to distracting users and compromising their privacy, generates less $ 0.05 per user per month for the average app developer, while paywalls convert on average less than 1% of users. Massive has developed an SDK that allows app users to choose to pay for premium features, content, and services with their available computing resources. The SDK runs imperceptibly in the background and only under appropriate conditions, includes user tools to monitor resource consumption, does not collect any personally identifiable information, complies with global privacy regulations, and is listed on the whitelist antivirus vendors. Massive aggregates have opted for processing power, storage, and bandwidth to compensate developers by hosting blockchain infrastructure, mining cryptocurrency, and, in the future, performing general IT tasks. The conversion rates of Massive’s partner developers hover around 30% and their average revenue per user is significantly higher than with ads. As a result, hundreds of thousands of users have already paid for apps with Massive.

The company intends to continue this momentum by rapidly doubling the size of its engineering and business development teams. All Massive job offers are available on jobs.joinmassive.com.

“Massive unlocks a whole new payment method for digital goods and services where users can pay with the idle computing power of their device. And for app developers, Massive is pioneering a new way to monetize users to complement existing business models of paywalls, in-app payments and advertising, ”said Adam carson, operational partner and head of crypto investment at Point72 Ventures, who is joining Massive’s board of directors. “We are thrilled to support their vision to bring Massive to billions of users around the world.”

Ari paul, CIO of BlockTower Capital added, “Massive is pioneering a new Web 3.0 monetization model for the Internet that allows users to pay for goods and services with idle compute capacity instead of giving up their personal data. . The advertising-driven business model of the Internet is long overdue. for disruptions, and we are delighted to partner with Massive on their journey. “

About Massive:

Massive is a new payment layer for the Internet. The company provides an SDK that allows app users to choose to access premium features in exchange for their idle computing resources rather than personal attention and data. These resources are combined to form a supercomputer that pays developers by decentralizing blockchain infrastructure, mining cryptocurrency, and performing general distributed tasks. Massive was founded by Jason Graduate and Brian kennish and is developed by a remote team around the world. For more information visit joinmassive.com.

About Point72 Ventures:

Point72 Ventures is a global venture capital strategy led by a diverse set of industry experts with the capital and mandate to lead tours through all stages of a company’s growth, from idea to business. Initial Public Offering. The team invests in bold-thinking founders who use the latest technology to drive transformational change across industries. Point72 Ventures provides entrepreneurs with access to expertise and knowledge, executive and technical talent, and hands-on support. With offices in the United States and Europe, Point72 Ventures is a subsidiary of Point72, the global asset manager founded by Steven A. Cohen. For more information visit p72.vc.

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