# Shadow funding: rounds and investors

> Shadow has raised $9.0M across 1 round since 2023. Investors include Coinbase Ventures, Paradigm and Electric Capital. Every round with its source.

Source: https://millionrounds.com/company/shadow (Millionrounds; every figure on the page links to its filing or article)

United States · [Seed startup](https://millionrounds.com/companies)

# Who invested in *Shadow*

One round we have observed, with the 3 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Gaming Web3 & Crypto

Funding summary Updated 26 Oct 2026

**$9.0M** raised across 1 round since 2023, from 1 source

- **Latest round:** Seed, $9.0M Dec 2023
- **Investors:** 3

See who backed them

## The rounds

- **Dec 2023** Seed **$9.0M** [Coinbase Ventures](https://millionrounds.com/fund/coinbase) [Paradigm](https://millionrounds.com/fund/paradigm) [Electric Capital](https://millionrounds.com/fund/electric-capital) Source recorded

## Everyone who backed them

[Coinbase Ventures](https://millionrounds.com/fund/coinbase) Corporate VC **1** round

[Paradigm](https://millionrounds.com/fund/paradigm) VC firm **1** round

[Electric Capital](https://millionrounds.com/fund/electric-capital) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=shadow).

## Also claim to have backed them

These 3 firms list Shadow as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above.

[Front Row Ventures](https://millionrounds.com/fund/front-row-ventures-2) VC firm Per its own site

[Flag](https://millionrounds.com/fund/flag) VC firm Per its own site

[Jezby Ventures](https://millionrounds.com/fund/jezby-ventures) VC firm Per its own site

## Quick answers about Shadow

### Who invested in Shadow?

Shadow's investors include Coinbase Ventures, Paradigm and Electric Capital.

### How much has Shadow raised?

Shadow has raised $9.0M across 1 round since 2023.

### When did Shadow last raise?

Shadow's most recent round was a Seed of $9.0M in Dec 2023.

### What was Shadow's biggest round?

Its most recent round, $9.0M in Dec 2023, is also its largest on record.

### Who backed Shadow first?

Shadow's first round on record, in Dec 2023, was backed by Coinbase Ventures, Paradigm and Electric Capital.

### What stage is Shadow at?

Shadow's latest named round is a Seed, in Dec 2023.

### Where is Shadow based?

Shadow is based in the United States.

## Companies like Shadow

In the same sector, and raised in the last eighteen months.

[**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**STRIVE** $1.3B · Oct 2026](https://millionrounds.com/company/strive)[**Arda** $233M · Oct 2026](https://millionrounds.com/company/arda)[**Binance.US** $300M · Oct 2026](https://millionrounds.com/company/binance-us)[**Fission** $10M · Oct 2026](https://millionrounds.com/company/fission)[**Homa** $5.0M · Oct 2026](https://millionrounds.com/company/homa)

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