• Safe is solving one of the biggest barriers to mass adoption of web3: custody.
• The strategic raise brings together 60+ industry leaders championing smart contract accounts as the standard to unlock digital ownership.

Safe (previously known as Gnosis Safe), a leading digital asset management platform, today announces it has raised $100 million led by 1kx. Initially developed as an internal tool, Gnosis Safe has organically become critical infrastructure for web3 as a means to securely manage digital assets.

Following a successful community vote to spin-off from Gnosis, the Gnosis Safe project is rebranding to Safe and announcing a strategic funding round of $100 million led by 1kx. The round is also joined by Tiger Global, A&T Capital, Blockchain Capital, Digital Currency Group, Greenfield One, Rockaway Blockchain Fund, ParaFi, Lightspeed, Polymorphic Capital, Superscrypt and 50 other strategic partners and industry experts (see below). The funding is raised for the Safe Ecosystem Foundation, a non-profit organization protecting strategic assets and contributing to the further development of Safe.

There’s been much talk about the “bear market”. We have all heard many perspectives. From the alarmist ones that cry gloom and doom, to the optimistic ones that tell you it’s a golden time to build. Like most things, the truth lies somewhere in the middle. Here’s some learnings from running Gnosis Safe, a project that exists since 2017.

(Below is an internal memo that we communicated to the Gnosis Safe team in May 2022, slightly adapted so it better applies to other projects as well.)

🔮 Challenging times ahead in Web3

Some industry and macro challenges that we need to brace ourselves for.

Over the last 4 years, the Gnosis Safe saga has unfolded to great heights. It has established itself as a critical piece of infrastructure for Web3, guarding digital assets for DAOs, institutions, projects and individuals alike. On Ethereum mainnet alone, Gnosis Safe users manage over $64B worth of assets, all in self-custody!

This was not a solo effort by Gnosis. It was made possible by the combined powers of a community of contributors. Contributors who believe in the usability and security of smart contract accounts, and who strive to help Web3 users regain control over their own assets. This core group of heroes helped Gnosis Safe get to where it is today! We’re extremely grateful, and we want to reward them for being an early believer in Gnosis Safe.

Our next mission

​​As Gnosis Safe lays the foundation of becoming an independent public good and community-owned account standard, we’re retroactively rewarding our initial contributors (Safe Guardians 🔰) with soon-to-launch SAFE governance tokens. 50,000,000 SAFE tokens (5% of total supply) will be rewarded over time to these ecosystem contributors. 2.5% of SAFE will be claimable immediately, while the other 2.5% will be vested over 4 years. This drop is in addition to the 5% of total supply already being allocated to users. This is our ‘thank you’ for their hard work and commitment to creating a more secure Web3 for all.