A company that provides tools for developers to build decentralized social networks announced its Series A funding on Thursday. Haun Ventures led the $11 million raise for Neynar, with participation from a16z's CSX, Coinbase Ventures, and Union Square Ventures.
Most developers who currently use Neynar’s services are building social applications on Farcaster, although the company aspires to become the go-to inventory for developing on any social protocol. Farcaster is an open-source protocol with over 378,000 users who own and control their data; for developers, they can use it to build social applications without seeking permission from the network. Last week, it announced it has raised $150 million in funding, with a similar roster of participants to Neynar's.
