Jump Crypto, Accel, and Prosus Ventures lead $43.5m fundraising round for KGeN

Web3 protocol KGeN has raised millions in a recent funding round, aimed at supporting and expanding its operations.

According to a statement shared with crypto.news, KGeN, a protocol focused on verified user distribution for Web3 applications, has raised $13.5 million in a strategic funding round.

Investors in the round include Jump Crypto, Accel, and Prosus Ventures, bringing the total funding raised by the company to $43.5 million, following a $20 million seed round in January 2023 and a $10 million ecosystem round in November 2024.

The project said the funds will be used to expand its identity and reputation framework, known as POGE, which supports user acquisition, commerce, and loyalty programs on-chain.

KGeN operates in more than 60 countries with 38.9 million verified users, generating $48.3 million in annualized revenue and serving around 780,000 daily active users.

Jump Crypto CIO Saurabh Sharma said KGeN’s model introduces more accountability into digital distribution, while Accel and Prosus Ventures noted the project’s ability to deliver scale and measurable interactions.

What is KGeN?

At the heart of the protocol is POGE, a privacy-preserving identity and reputation framework. POGE collects engagement data to support verified user acquisition, helping developers track participation in DeFi projects, games, and other Web3 applications.

KGeN positions this approach as an alternative to Web2-style advertising and user acquisition, which often relies on anonymous or low-quality data. The protocol is also active on the Aptos blockchain, where it has over 18 million users and high transaction volumes.

With the new funding, it aims to expand its infrastructure and support more projects focused on verified and incentivized user growth.