Security Audit Firm Raises $5.3M From Funds Investing in Polkadot, Cardano Blockchains

Runtime Verification checks smart contracts for errors, perhaps most famously with Uniswap.

AccessTimeIconJun 18, 2021 at 12:00 p.m. UTC
Updated Sep 14, 2021 at 1:13 p.m. UTC

Blockchain security auditor Runtime Verification has raised $5.3 million from a handful of prominent backers.

  • Led by IOSG Ventures, the funding round included investment from Polkadot-focused Hypersphere Ventures, Cardano's cFund, the Tezos Foundation, Elrond Research and Algorand accelerator Borderless Capital.
  • "The fact that five blockchains joined our investment round through their funds, based on research from their development teams who witnessed our technology, is a testament to the universality and strength of our technology," founder Grigore Rosu said in a statement.
  • Runtime Verification, founded in 2010, conducts security audits on virtual machines and smart contracts using mathematical verification.
  • The startup has worked with a number of firms in blockchain and beyond and earned several mentions in founder Hayden Adams' "history of Uniswap" post from 2019.
  • The Illinois-based firm said it recently created a new business entity in Singapore.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC