# WaterBit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/waterbit

- Industry: Agribusiness
- Headquarters: San Jose, US
- Website: www.waterbit.net
- Total disclosed funding: $11M
- Latest round: Series A (Jun 26, 2018)
- Investors on record: 1

## About

WaterBit, Inc. specializes in domain name registration and management, offering a user-friendly platform for purchasing and leasing premium domain names, ensuring secure transactions and support for clients across various sectors.Founded in 2015 and headquartered in San Jose, US, WaterBit, Inc. provides domain name services, primarily through the sale of "waterbit.net". The company secured USD 11.4 mn in Series A funding led by New Enterprise Associates on June 26, 2018, which contributed to their total amount raised of USD 11.4 mn and a current valuation of USD 29.16 mn. CEO Leif Chastaine leads the company, which has engaged in one significant deal.Waterbit.net primarily offers domain name registration and management services, focusing on providing a seamless and secure experience for clients looking to purchase or lease premium domain names. The core offering includes the sale of the domain name "waterbit.net" for a fixed price of USD 599, along with an option for potential buyers to submit an offer, thus catering to a wide range of budgets and negotiation preferences. The company simplifies the domain acquisition process, ensuring secure transactions and providing transaction support throughout the buying experience. Key customers include individuals, startups, and businesses across various industries seeking to establish a web presence, particularly in the United States and other international markets. By promoting secure payments and hassle-free transfers, Waterbit.net serves clients looking for reliability and safety in digital asset acquisitions.Waterbit.net’s revenue model is structured around the direct sale of domain names, primarily through one-time transactions, where customers can purchase domain names outright or negotiate offers. Each transaction involves a straightforward purchasing process, where clients can either pay the fixed price or enter into discussions to secure a more favorable deal. The pricing structure prominently features the flagship domain "waterbit.net" priced at USD 599, reflecting the company’s positioning in the premium domain market. Revenue is generated through these transactions, with the company also benefiting from transaction fees associated with domain transfers. The focus on secure payments and fast transfers ensures customer satisfaction, which is crucial in maintaining a steady flow of business and establishing a loyal client base.WaterBit, Inc. plans to utilize its recent funding of USD 11.4 mn from the Series A round to enhance its product offerings and streamline its operations. The company is looking to introduce new domain management features designed to improve user experience, with plans for a rollout by the end of 2023. Additionally, WaterBit, Inc. aims to expand its market reach beyond the United States, targeting international markets in Europe and Asia by mid-2024. The funding will also support marketing efforts and infrastructure enhancements to facilitate this expansion.

## Funding rounds

- Series A, Jun 26, 2018, $11M — New Enterprise Associates

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A