XMTP developer Ephemera completes $20 million Series B financing, led by a16z crypto and other investors

Foresight News reported that Ephemera, the core developer of decentralized messaging protocol XMTP, has completed a $20 million Series B funding round, led by Union Square Ventures, a16z crypto, and Lightspeed Faction, with participation from Coinbase Ventures, Offline Ventures, Sound Ventures (founded by Ashton Kutcher and Guy Oseary), and Distributed Global. This round of financing has an equity value of $300 million and a network valuation of $750 million, with USV's Fred Wilson joining its board of directors. XMTP is restarting in Coinbase's new Base application, transitioning from an optional tool to a native infrastructure.