Staging Labs, which currently has three full-time staff, announced that it has raised $1.1 million in an oversubscribed pre-seed round.

Saferoot isn’t predicting or detecting malicious attacks per se. Rather, it sounds an alarm when a transaction exceeds a user’s defined limits, similar to how people safeguard their credit cards by customizing spending limits.

Once Saferoot spots a suspicious transaction, it then shoots it down and sends another transaction in its place so as to move the asset before the hacker can steal the funds.

Though Saferoot appears to be a SaaS solution, it’s going for a somewhat different path to monetization. Recognizing that fund protection is an essential part of asset transfers, the company plans to charge users a subscription fee and a percentage of the assets that are successfully recovered.

It will also share revenues with wallets, which act as key service distribution channels in the crypto world but often struggle to generate revenues themselves. It’s currently in talks with “dozens” of wallets and is nearing partnership with one player.

Staging Labs’ latest financing is a “party round”, which is common for young crypto startups seeking partnerships and during a bear market when investors are more reluctant to lead. The lineup includes The General Partnership, Flourish Ventures, NGC Ventures, AlphaGrep, Gaingels, scouts from a16z, Kleiner Perkins, Greylock, and crypto founders and angel-operators from ConsenSys, Coinbase, Anchorage Digital, Chainalysis, Quicknode, Merkle Science and more.