HackQuest, a Singapore-based Web3 developer platform, has successfully secured $4.1 million in a pre-A funding round aimed at scaling its ecosystem to tackle the blockchain industry’s growing talent shortage.
The round was led by Animoca Brands and Open Campus, with participation from HashKey Capital, Gate Ventures, Hash Global, Find Satoshi Labs (StepN), Outlier Ventures, Bytetrade Labs, and Scott Moore of Public Goods and YY of Signum Capital.
HackQuest’s mission is to provide an end-to-end solution for onboarding, educating, and retaining developers in the decentralized economy, moving beyond short-lived incentive programs that fail to build long-term ecosystem commitment.
Addressing the Global Web3 Talent Shortage
The developer disparity between Web2 and Web3 is striking.
According to the Electric Capital 2024 Developer Report, there are roughly 28.7 million developers in the traditional internet space, compared to only 7,673 full-time Web3 developers, a gap exceeding 4,000 to 1.
The shortage has slowed innovation across blockchain ecosystems, with previous grant-based solutions failing to deliver sustainable growth.
HackQuest was founded to address this systemic bottleneck by creating a structured and scalable talent pipeline.
CEO Kevin Li emphasized that developers are the “leading indicator of value creation,” pointing out that retention, not just recruitment, is the key to thriving ecosystems.
Co-founder Cameron Wang added that many aspiring Web3 developers face “dead ends” due to the lack of a clear hiring and onboarding pathway.
An Integrated, Credential-Based Learning Ecosystem
HackQuest’s platform is designed to support developers from their first learning experience to launching full-fledged blockchain projects.
Onboarding training starts with co-created educational programs with major networks, such as Mantle, Solana, Arbitrum, Linea, or BNB Chain, and the training programs are therefore expected to address current industry needs.
One of the main innovations is HackQuest’s on-chain credential system, which keeps track of every achievement made by the candidate, from finishing courses to building projects on the blockchain.
The immutable record acts as recognized proof of a developer’s skills and capability, providing a transparent evaluation interface to hiring managers, investors, and ecosystems to judge talent.
“Bridging the gap between talent and opportunity, so a fully visible and validated career path can be forged altogether,” said co-founder Harry Zhang.
Proven Traction and Global Expansion
HackQuest was established in 2024 and has grown to have over 90,000 developers from 30-plus countries. They have seen a surge in revenue of $2 million and maintain their high-growth rate.
The platform has hosted 219 in-person events and 112 hackathons, distributing over $1.45 million in prizes.
Strong developer communities have emerged in India, the U.S., Greater China, Nigeria, and Singapore, with new expansion plans targeting Indonesia, Turkey, Kenya, Brazil, Argentina, and Vietnam through localized partnerships.
The rapid adoption demonstrates both the global demand for Web3 talent and the market’s confidence in HackQuest’s approach to solving the industry’s talent crisis.
Also Read: Domain Registrar Freename Completes $6.5M Series A Funding to Advance Blockchain DNS
Other Recent Funding Stories in the Crypto Sector
HackQuest’s raise follows a wave of significant funding activity in the crypto industry.
On June 17, the stablecoin clearing startup Ubyx raised $10 million in a seed round led by Galaxy Ventures and Coinbase to build infrastructure that connects stablecoin issuers with banks and fintech companies.
Also, BridgePort announced a $3.2 million seed round on July 8th led by Further Ventures to support the growth of its crypto-OTC settlement platform, with backing from major institutional players like Virtu and XBTO.
Notably, GAIB announced a $10 million strategic investment led by Amber Group on the 30th of July aimed at scaling the development of on-chain AI compute, with the goal of democratizing AI-driven returns for the average investor.
The deals are a testament to the rising investor appetite for blockchain infrastructure and innovation, which is a trend that HackQuest is now capitalizing on.