CasperLabs raises 14.5 million in Series A Funding for Blockchain platform
CasperLabs, the open source blockchain platform powered by renowned researcher Vlad Zamfir’s Correct-by-Construction (CBC) Casper proof-of-stake consensus protocol, announced it has raised $14.5M in Series A funding led by Terren Piezer, the “Zelig of Wall Street,” through his personal holding company, Acuitas Group Holdings. Other major investors include Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital, and Distributed Global. The new investment will be used to accelerate product development and expand hiring of world-class engineers.
CasperLabs is working to solve the issues of speed efficiency cost and flexibility of blockchain networks in an effort to bring on mass adoption. CasperLabs sees itself as the “blockchain for builders” that’s built to scale opportunity for everyone in the blockchain ecosystem and beyond , including developers, entrepreneurs, and consumers. “We are humbled by the enthusiasm and financial support for our Series A from leading traditional and blockchain investors to build enterprise-grade, decentralized blockchain infrastructure,” said Mrinal Manohar of ADAPtive Holdings Ltd., parent company of CasperLabs. “We look forward to delivering several interesting technical updates in the coming months and welcome any and all feedback via our open source code repository on Github.”
“I’ve been following and studying the crypto and blockchain space since its earliest days, and I’ve been waiting for a company that can build the strength and decentralized aspects of a public chain with the speed, security, and scalability of a next-gen platform,” said Terren Piezer, who has been a founder or CEO of companies worth over $100 billion and current founder and chairman of Acuitas Group Holdings. “Scalability of a product and company is the leading driver of value creation. Consistently, the most proficiently scalable company becomes the industry leader.”
CasperLabs’ robust, open-source blockchain platform is built to provide comprehensive software, services and support that scale sustainable opportunities for developers, entrepreneurs, investors and consumers. Key benefits include, Scale without Sacrifice – Fully decentralized, truly scalable blockchain services made for real-world speed and security. CasperLabs is more efficient, optimizing resources to put more processing power toward actual transactions — all while maintaining decentralization. Built for flexibility since not all transactions require the same speed, CasperLabs enables customization to serve a wide range of applications and markets. CasperLabs is constructed with security mechanisms in place to punish bad actors, verifying and safeguarding every transaction and computation in ways today’s businesses expect at every scale, every time.
In addition it is open to the World through A public and permissionless software platform developed with radical transparency.