Blockchain protocol research and development company CasperLabs has raised $14.5 miilion in Series A funding round led by Terren Piezer, through his personal holding company Acuitas Group Holdings. The round also saw participation from Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital, and Distributed Global.
CasperLabs has developed a 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. The platform is using CBC Casper, a Correct by Construction, Proof of Stake consensus protocol that uses bonds and slashing (penalties) to secure the network.
The company said that the latest investment will be used to accelerate product development and expand hiring of “world-class engineers.”
“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, CEO 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.”
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