Commonwealth Raises $20M in Series A Lead by Spark Capital

We are excited to announce our $20M Series A fundraising! This round is led by Spark Capital and we will be adding Nabeel Hyatt from Spark to our Board of Directors. Additional investors in the round include Polychain Capital and A&T Capital.

This adds to our current list of investors.

Where are we heading?

This investment will enable us to scale up our team and continue building the best cross-chain end-to-end DAO tooling platform. Specific milestones we will be working towards include launching crowdfunding, decentralizing the platform, enabling composability of DAO tools, a DAO launcher, and improving member analytics and moderation.

We believe the future of DAOs is contribute-to-earn. Whether these are soul-bound tokens, tokens for completed bounties, or karma and accrued reputation, communities and DAOs should be able to easily spur and reward contributions.

Right now, DAOs largely rely on the efforts of a few to drive the progress of the larger organization. Common aims to reduce the friction of launching, joining, and contributing to one or many DAOs. This seamless end-to-end tool will allow for more people to participate in DAOs and earn from their contributions.

Furthermore, we want communities to be able to own themselves. Current platforms like Twitter, Discord, Discourse, and others are rent-takers. They operate based on increasing user screen-time, selling our data, and/or charging rents for usage. Common allows for users to control their experience and communities to own and moderate themselves.

Why we are excited for these new partners?

Spark was by far our first choice, due to Nabeel’s amazing experience in growing community platforms. He was one of the first investors in Discord. He has a great track record of building companies as both an investor and founder.

We are additionally excited for Polychain, Global Coin Research, Reverie, Vessel, and Fire Eyes to lend their crypto-native expertise as we look to expand into new market segments within the broader crypto landscape. Wintermute, A&T Capital, Jump, and our angels for each bringing specific market expertise