Ethereum Push Notification Service Raised $10M At $131M Valuation

The lack of cross-blockchain communication is one of the biggest problems in crypto user experience (UX). Ethereum Push Notification Service (EPNS), which is a communication protocol that aims to address this problem, raised $10.1 million in Series A funding at a $131 Million valuation.

Jump Crypto was the host of the round, with participation from ParaFi, Sino Global Capital Capital, Polygon Studios, Harmony Foundation and Tiger Global.

EPNS allows on-chain communication with the option to opt in for permissionless channel notifications or subscriptions. Instead of using usernames to connect as on Discord or Twitter, EPNS relies on a user’s on-chain identifier. EPNS claims that the protocol has sent 4 million notifications to 44,000 subscribers since its launch in January.

“We have a very aggressive plan to get to a million users,” EPNS founder Harsh Rajat told in an interview.
Snapshot governance updates, domain expirations and Oasis vault liquidations are all part of the Ethereum Naming Service (ENS).

EPNS will make use of the funding to expand its team, and develop other blockchains than Ethereum. Rajat stated that the protocol has been tested on Polygon. The protocol will launch on Harmony, BNB Chain, and an unspecified non Ethereum Virtual Machine chain (EVM). The company also plans on launching wallet-to-wallet communications in the third quarter.

“A user on any blockchain should be able to receive a notification from any other service they use on any blockchain,” Rajat explained.

“As Web 3 power users, Sino Global Capital faces the difficulty of monitoring numerous DeFi, gaming and governance platforms and proposals,” said Sino Global Capital CEO Matthew Graham in a statement. “EPNS solves a huge pain point for us and fellow Web 3 product users by creating and consolidating notifications into an easy-to-use dashboard with fantastic UI/UX.”

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