Pinata Raised $21.5M To Scale NFT Media Infrastructure – TechCrunch
Pinata, an NFT-focused media distribution platform, has raised a total of $21.5 million in funding, the company exclusively told TechCrunch.
This is the only capital the four-year-old company has raised to date. The total amount came from a recently closed $18 million Series A and $3.5 million seed round in 2021, Kyle Tut, co-founder and CEO of Pinata, said to TechCrunch. The Series A was co-led by Greylock and Pantera, and the seed round was co-led by Greylock and Offline Ventures. Other investors include Volt Capital, OpenSea and Alchemy.
The Omaha, Nebraska-based business provides media infrastructure and support for NFT marketplaces, metaverses, web3 apps and other crypto projects. It allows users to manage, share and monetize their media on any blockchain like Ethereum, Solana, Polygon, Avalanche and Algorand, to name a few.
“We power a significant portion of web3,” Tut said. “Some of the biggest names in the space are using us. Those users range from non-technical creators to software engineers.”
In the past year, Pinata’s revenue growth has increased 42 times year over yea