Pantera Capital and Jump Crypto lead $20 million funding round for Humanity Protocol

The decentralized identity platform Humanity Protocol raised $20 million in funding led by Pantera Capital and Jump Crypto. 

The fresh financing brings Humanity Protocol’s fully diluted valuation to $1.1 billion, according to a company release. 

Humanity Protocol builds infrastructures for humans to verify their digital presence to reduce the number of bots, deepfakes and other frauds in online spaces. People can use the platform to scan their palms and authenticate their blockchain-based digital identity while maintaining control over their personal data. 

The firm plans to use the funds to scale its operations, integrate with other web3 platforms and build out its Proof of Humanity and Human ID infrastructure.

“At Humanity Protocol, we’re committed to empowering individuals with digital identities that are truly their own,” said Humanity Protocol founder Terence Kwok in a Jan. 27 release. “This investment from Jump Crypto and Pantera Capital brings us one step closer to realizing a future where trustless, decentralized identity solutions are the norm.”

In May 2024, Humanity Protocol raised $30 million in funding led by Kingsway Capital to bring the firm’s total valuation to $1 billion, The Block previously reported. 

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