Offchain Labs
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Offchain Labs - overview
Established
2018
Location
Princeton, NJ, US
Primary Industry
Software
About
Based in New York, US, Offchain Labs, Inc. , was founded in 2018 by co-founders Harry Kalodner (CTO), Ed Felten, and Steven Goldfeder (CEO). Offchain Labs is a provider of scaling solutions for Ethereum. In 2019, Offchain Labs, Inc.
raised USD 3. 7 million in seed funding led by new investor Pantera Capital, with participation from another new investor Compound Ventures, and several individual investors. In August 2021, the company raised USD 120 million in series B funding led by new investor Lightspeed Venture Partners, with participation from other new investors. Moreover, In October 2022, Offchain Labs acquired Prysmatic Labs.
The company develops a platform called Arbitrum which is an "Optimistic Rollup" scaling solution for Ethereum. Arbitrum scales programs in real-time, lowering costs and increasing capacity while maintaining Ethereum's security. Arbitrum is fully compatible with most existing Ethereum developer tooling, so transferring contracts to it requires no code modifications or downloads. The company plans to use the funding in August 2021 to scale the team, further develop the Arbitrum One ecosystem, build out new scaling solutions in its pipeline and invest in R&D.
Current Investors
Compound Ventures, Pantera Capital, Lightspeed Venture Partners
Primary Industry
Software
Sub Industries
Storage, Analytics & Performance Software, Storage Management Software
Website
www.offchainlabs.com
Verticals
Blockchain, Blockchain
Company Stage
Series B
Total Amount Raised
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