Daylight, a crypto platform that recommends personalized on-chain actions for users, such as airdrop claims, has raised $6 million in a seed funding round.
Union Square Ventures (USV) led the round, with 1kx co-leading, Daylight said Tuesday. Other participants included Framework Ventures, Chapter One, Zerion co-founders Evgeny Yurtaev and Vadim Koleoshkin, Blockaid co-founders Ido Ben-Natan and Raz Niv and Yup co-founder Nir Kabessa.
As part of the deal, USV has joined Daylight's board, Daylight co-founder Kyle McCollom told The Block.
Daylight began raising funds for the seed round in June of this year and closed it the following month, McCollom said. The round was structured as equity priced with token warrants, McCollom said, declining to comment on Daylight's valuation.
The seed round brings Daylight's total funding to $9 million, having previously raised $3 million in a pre-seed round in November 2022.
What is Daylight?
Daylight is an "onchain for you" API integrated into major wallets like MetaMask, Coinbase Wallet, Zerion and OKX Wallet. It offers personalized transaction recommendations, including airdrop claims, NFT mints, gaming quests and more. McCollom said Daylight's goal is to help users discover on-chain activities tailored to their interests, ultimately increasing the number of transacting users and revenue for wallets.
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McCollom and his co-founder Morley Zhi were previously directors of product and engineering, respectively, at Stellar, where they focused on building a wallet aimed at increasing transacting users and, in turn, boosting revenue. Realizing they needed something like Daylight to achieve this, McCollom said that experience led them to leave Stellar and start Daylight in 2022.
Daylight says its API currently drives 5% of its wallet partners' transacting addresses, with 6 million monthly active addresses receiving recommendations. The platform plans to scale this number to "tens of millions of monthly addresses."
Daylight also plans to add new transaction categories beyond mints, claims and quests. "We will be adding one big new category in Q4, to be announced soon," McCollom said, declining to disclose the new category.
Currently, there are 12 people working for New York-based Daylight, and McCollom is hiring three backend engineers. He also plans to add more moderators to review transaction submissions and related activities later.
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