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.

Jun 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

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.