Gunderson Dettmer represented client Andreessen Horowitz (a16z) as it led the $50 million Series A financing of PROOF, an operator of media, podcasts, and in-person events for people passionate about non-fungible tokens (NFTs). The company will use the new capital to enter a new phase of growth toward becoming a leading web3 technology company.

In the announcement of the transaction, General Partner at Andreessen Horowitz Sriram Krishnan said, “What makes PROOF exciting is it’s a combination of a seasoned team of founders building interesting tech and product experiences with a real focus on community. We believe that the next generation of massive mainstream media franchises will be community-owned and governed, and PROOF is one of those companies demonstrating just that.”

The Gunderson Dettmer deal team was led by Jeff Engerman and included David Horne, Jordana Douglas and Ben Cukerbaum.

Companies:
Andreessen Horowitz
PROOF