Web3Auth (formerly Torus Labs) is a Singapore-based provider of non-custodial key management and embedded wallet infrastructure for web3 applications. Its technology lets users access decentralized apps using familiar web2 authentication methods (social logins, email, SMS, passkeys) via Multi-Party Computation (MPC), eliminating the need to manage seed phrases. At the time of its 2025 acquisition by Consensys, Web3Auth supported nearly 50 million end users and powered more than 8,200 dapps across the web3 ecosystem.
Web3Auth has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2019
Employees
51–100
Total Funding
$15M
2 rounds
Total raised $15M across 2 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 05-22-2026
Latest Round
Type
Series A
Date
January 12, 2022
Amount
$13M
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| January 12, 2022 | Series A | $13M | — | Sequoia Capital India |
| July 9, 2019 | Seed | $2M | — | Multicoin Capital |
Zhen Yu Yong
Co-Founder & CEO
Leonard Tan
Co-Founder
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Magic (Magic Labs)
Embedded wallet and passwordless authentication provider for web3 apps, offering similar key-management-as-a-service to Web3Auth.
Privy
Embedded wallet and authentication infrastructure for web3 applications; acquired by Stripe.
Dynamic
Multi-chain wallet onboarding and authentication platform; acquired by Fireblocks.
Turnkey
Programmable, low-level key management and signing infrastructure for web3 developers.
Thirdweb
Full-stack web3 development platform offering embedded wallets, SDKs, and infrastructure.
Openfort
Open-source embedded wallet stack and key management infrastructure for web3 applications.
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