In less than a minute in 2017, Brave, a free and open-source web browser developed by Brave Software Inc., raised $35 million. It is now looking to raise more equity. Brave Browser Seeks over $30M in Series A funding round.
After announcing the launch of its advertising platform Brave Ads, which is built on privacy, comes the Series A for the privacy-centric internet browser. Users are rewarded for viewing ads. They will be paid in BAT (Basic Attention Tokens), and however, are promised 70% of the revenue share coming from the advertisements. Sources say the company seeks to raise $30–$50 million at a valuation of roughly $133 million.
“With Brave Ads, we are launching a digital ad platform that is the first to protect users’ data rights and to reward them for their attention”.
Brave Browser Seeks over $30M in Series A funding round. This is not the first time for the upstart web browser to raise capital. The company first gained attention with its ad-blocking browser in 2016, after it raised $4.5 million seed rounds from investors such as Pantera Capital, Founders Fund, and Digital Currency Group.
Vice, HomeChef, Ternio BlockCard, MyCrypto, and eToro are the latest ad networks and brands to join Brave.
Even though in 2017 the success of the company’s initial coin offering (ICO) garnered nearly $35 million and was sold out in blocks in less than 30 seconds along the way, Brave showed signs early that its 2017 ICO might not be enough to fuel growth.
No representative at Brave was available when requested for comment.