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CasperLabs Raises $14.5M Series A Round, Aims to Scale Blockchain Opportunities for Everyone

September 11, 2019

NEW YORK--(BUSINESS WIRE)--Sep 11, 2019--

CasperLabs, the open-source blockchain platform powered by the Correct-by-Construction (CBC) Casper proof-of-stake consensus protocol, today 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.

Blockchain networks today have yet to achieve widespread adoption for both businesses and consumers because they all compromise on something — speed, efficiency, cost, flexibility, and/or security. Moreover, transaction fees are climbing and already-slow transaction times are increasing as networks become more and more congested. A better platform is needed to remove barriers to mass adoption -- a platform that not only solves the “trilemma” of scale, decentralization, and security, but is also developer-friendly to build and operate apps.

Enter CasperLabs, 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. 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, initial investor, 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.”

A Blockchain Platform that Scales Opportunity for Everyone

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.

Great Developer Experience -- Familiar tools, open architectures, and expert support to make any developer a blockchain developer. CasperLabs is written in Rust, allowing developers to write in any WebAssembly-compatible language and spend more time creating and less time configuring.

Open to the World -- A public and permissionless software platform developed with radical transparency.

Future-proof Foundation -- An upgradeable infrastructure to support enduring and equitable innovation as businesses’ needs evolve over time. CasperLabs delivers longevity in a space filled with short-lived solutions. It keeps transaction fees predictable so developers and businesses never become victims of their own success.

About CasperLabs

CasperLabs is the blockchain platform purpose-built to scale sustainable opportunities for everyone, including developers, entrepreneurs, and consumers. Unlike other solutions and platforms, CasperLabs is designed to scale without sacrificing speed, cost, usability, decentralization or security. Led by CEO Mrinal Manohar and CTO (Chief Technology Officer) Medha Parlikar, the team seeks to scale opportunity for everyone by working with leading blockchain ecosystem participants. The platform removes barriers that prevent mainstream blockchain adoption and is powered by the first provably live and safe implementation of the CBC Casper proof-of-stake protocol. With a global team that spans the U.K., Canada, the U.S. and beyond, CasperLabs is funded by Acuitas Group Holdings, Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, and Hashkey Capital among others. For more information, visit https://casperlabs.io.

About Acuitas Group Holdings

Terren Peizer, dubbed the “Zelig of Wall Street,” whose Acuitas Group Holdings (AGH) is his personal holding company that owns all of his portfolio company interests, which include 4 companies Mr. Peizer personally founded, and remains the Chairman, CEO and majority shareholder. AGH owns Acuitas Capital Group (ACG), which invests in public companies and provides growth capital to small and medium-sized enterprises. Since its inception in June 2009, ACG has provided companies with capital commitments and funding in excess of $1.5 Billion.

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CONTACT: Alexandra Karpova





SOURCE: CasperLabs

Copyright Business Wire 2019.

PUB: 09/11/2019 07:14 PM/DISC: 09/11/2019 07:14 PM


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