Web3 security firm Shield said Thursday it raised $2.1 million in pre-seed funding to build an industry standard that keeps businesses and consumers safe from potential threats.

The funding round for the company, which is also member of crypto investment firm a16z’s Crypto Startup School, included participation from Kraken Ventures, Eterna Capital, Alchemy, MoonPay and Rob Behnke, CEO of crypto security firm Halborn.

Emmanuel Udotong, CEO and co-founder of Shield, told CoinDesk the company aims to build an industry standard for companies in the Web3 space to securely operate their businesses.

Shield starts with a certification program that helps businesses determine where their vulnerabilities lie and then recommends products to keep users safe. Currently, Shield offers an API that helps identify potential scams within a protocol, as well as a Discord bot that helps monitor community-based malicious activity.

(by Toby Leah Bochan)