💰 RootData Funding Report (4/11) - Towns Protocol

🚀 @TownsProtocol has raised $10M in a Series B round to accelerate the development of its decentralized real-time messaging infrastructure. The round was led by @a16zcrypto, with additional support from @cbventures and Benchmark—a powerful trio aligned with Towns’ vision of building programmable, ownable, and privacy-preserving communication layers for Web3.

· As lead investor, a16z crypto brings not only deep conviction in decentralized social infrastructure, but also vast experience backing network-driven platforms. Their expertise in crypto-native identity, social graphs, and protocol scalability makes them a key strategic partner as Towns builds out its “Spaces,” membership systems, and encrypted messaging infrastructure.

· Coinbase Ventures, as the investment arm of one of the most widely used crypto platforms, offers meaningful strategic value in terms of onboarding users, wallet integration, and Base ecosystem alignment—particularly valuable since Towns deploys its smart contracts on Base.

· Benchmark, known for early-stage investments in iconic social and communications platforms, brings strong product instincts and historical knowledge from traditional tech—offering guidance on user experience, retention, and the design of ownership-driven social primitives.

🌟 Together, these investors offer a well-rounded combination of Web3 infrastructure expertise, crypto-native user acquisition channels, and battle-tested consumer product insight, positioning Towns Protocol to redefine how real-time communication can be decentralized, programmable, and composable across onchain networks.