MeWe, the privacy-first social media platform, has announced the launch of a Series B funding round, led by McCourt Global, to fuel its Web3 expansion. With over 20 million users, MeWe aims to scale its platform by developing new technologies, including AI integration, launching Web3 product features, and introducing a native token to enhance user growth and platform engagement.

Over the past year, MeWe has made significant strides in its Web3 transformation, migrating more than 1 million users to the Frequency blockchain. This Layer 1 blockchain, built on the Decentralized Social Networking Protocol (DSNP), ensures user privacy and individual ownership of personal data. The migration marks MeWe as one of the largest Web3 user bases globally, reinforcing its commitment to decentralization and data privacy.

Jeffrey Edell, Chairman and CEO of MeWe, expressed excitement about the platform’s future: “This Series B round allows us to accelerate the transition to Web3 and bring more benefits of an open, decentralized web to our growing community.”

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Divya Narendra, MeWe Advisory Board Member, added, “MeWe is leading the tech industry by providing scalable alternatives that protect privacy and give users control over their data, pioneering the movement towards a decentralized internet.”

With over 600,000 users now owning their complete social graph on the Frequency blockchain, MeWe is set to continue its growth, supported by the Series B funding round.