Farcaster, an open source blockchain-based social media startup, raised $150 million in a Series A round led by Paradigm, giving the company a $1 billion post-money valuation. Launched in 2021 and headquartered in New York, New York, United States, Farcaster provides a decentralized social networking platform that empowers users with ownership of their content and data while leveraging blockchain technology for transparency and security.
Keep reading to learn how Farcaster is redefining social media through decentralization and blockchain innovation.
What Is Farcaster and What Does It Do?
Founded in 2021, Farcaster is a blockchain-based social media platform designed to give users control over their data and digital identity. The platform enables decentralized communication, content creation, and social networking using blockchain protocols. Farcaster integrates smart contracts, open source technology, and decentralized identity solutions to ensure transparency, security, and user ownership of content across the network.
How Much Funding Has Farcaster Raised?
1. Series A Round
- Amount Raised: $150 million
- Date: 2025
- Valuation: $1 billion
- Lead Investors: Paradigm
- Purpose: Scale platform development, expand engineering and community teams, and grow decentralized social network adoption
2. Earlier Rounds (Seed)
- Cumulative Funding: ~$30 million
- Key Investors: a16z, Union Square Ventures
- Purpose: Launch platform, develop blockchain protocols, and build initial user base
Total Funding Raised: More than $180 million
Latest Funding Date: 2025
Latest Known Valuation: $1 billion
Key Investors
- Paradigm
- Details: Venture capital firm focused on cryptocurrency, blockchain, and decentralized technologies
- Focus Areas: Web3, blockchain protocols, decentralized platforms
- a16z
- Details: Venture capital firm investing in technology and blockchain startups
- Focus Areas: Web3, social media, AI, and decentralized networks
- Union Square Ventures
- Details: Investment firm backing early-stage technology startups
- Focus Areas: Open source platforms, blockchain, and social technologies
Where Is Farcaster’s Headquarters?
Farcaster is headquartered in New York, New York, United States, supporting engineering, blockchain development, and community operations for its decentralized social media platform.
What’s Next for Farcaster?
Farcaster plans to expand its decentralized social media platform, onboard more users and developers, and enhance blockchain-based content and identity features. The company aims to drive adoption of open source and decentralized social networks while providing secure, user-owned digital experiences.
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