USA-based security-focused Web3 dev tools provider Cubist raises USD 7 million in seed funding. The company announced the seed round on March 9, 2023. Polychain Capital led the financing for the company. Meanwhile, capital and strategic investors such as dao5, Amplify Partners, Polygon, Blizzard, Axelar, and more joined in the funding.
Purpose of financing for Cubist
With the latest capital funding, Cubist seeks to accelerate its product development and scale its technological capabilities.
What the company’s officials have to say
Riad Wahby, Co-Founder and Chief Executive Officer of Cubist, said, “The future of Web3 will be powered by dApp developers building amazing applications. However, this future will not be possible if developers must continue to build custom tooling and infrastructure, stitch together incompatible point solutions, and lose sleep over the security of their tech stacks. This stifles innovation and leads to serious security vulnerabilities. We’re building Cubist to break this bottleneck and let developers focus on delivering the best, most secure applications possible. Cubist’s obsessive focus on helping developers efficiently and securely build dApps will set the standards for both safety and productivity, and we can’t wait to help build the future of Web3.”
In addition, Ann Stefan, Co-Founder and Chief Operating Officer of Cubist said, “Even some of the most exciting innovations in Web3 have suffered from technical mistakes that are easy to make, expensive to find, and hard to fix. The problem is that developers simply don’t have the tools they need to prevent these critical errors. Cubist takes a security-first approach that gives developers peace of mind at every stage of development. With the support of our investors and community, we look forward to making Web3 a safe, fruitful place for builders.”
What the investors have to add
Luke Pearson, Senior Research Cryptographer at Polychain Capital, said,” Cubist is on an exciting growth trajectory, led by a team that is uniquely positioned to address today’s Web3 development and security challenges. By positioning themselves as the union between security, efficiency, and developer familiarity, Cubist is defining the next iteration of developer platforms to bring a better experience for all in Web3. With Cubist, Web3 development will be faster, safer, and simpler. We are thrilled to support this incredible team.”
In addition, Tekin Salimi, Founder of dao5, said, “We met Cubists early in their journey and were immediately compelled by what they were building. Our conviction has grown even stronger with their first-of-its-kind developer toolkit. Developers looking for first-class security and a unified multi-chain development environment should look no further than Cubist. We can’t wait to see what’s next for the Cubist team.”
David Beyer, Partner at Amplify Partners, further added, “Web3 has the potential to be transformative—but many Web2 developers remain hesitant to dive in because they just don’t have the time to study every esoteric component of the Web3 tech stack. Cubist, backed by a world-class technical team, is raising the level of abstraction to eliminate this barrier. I’m really excited for Cubist to unlock Web3 for the next wave of developers.”
About Cubist
Riad Wahby, Ann Stefan, Fraser Brown, and Deian Stefan launched the company. Cubist is a Web3 infrastructure provider creating secure-by-design tools that enable developers to safely build, test, and deploy dApps at scale.
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