TechFlow news — Spruce, a digital identity company, has announced a $34 million Series A funding round led by Andreessen Horowitz (a16z), with participation from Ethereal Ventures, Electric Capital, Y Combinator, Okta Ventures, SCB 10X, Robot Ventures, OrangeDAO, A.Capital Ventures, Third Kind Venture Capital, Protocol Labs, Gemini Frontier Fund, and SV Angel.
Wayne Chang, co-founder and CEO of Spruce, said the company plans to double its team size by the end of this year, currently totaling 15 employees. The funds will be used to advance development of its core products, "Sign-in with Ethereum" and Kepler.
As previously reported, in November 2021, Spruce raised $7.5 million in a round led by Ethereal Ventures and Electric Capital.
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