Vlad Zamfir-headlined blockchain project CasperLabs bags $14.5M Series A to improve Ethereum 2.0 scalability

Quick Take

  • Blockchain startup CasperLabs has raised a $14.5 million Series A; the round is led by “Zelig of Wall Street” Terren Piezer
  • CasperLabs is looking to expand its “core technical team” with the new capital
  • Cliff Sarkin, EVP of Partnerships at CasperLabs, told The Block that the Series A was raised “on a pre-money company valuation of $30M”

CasperLabs, the startup working to improve Ethereum 2.0 scalability without sacrificing decentralization or speed, has raised $14.5 million in Series A funding, according to an announcement on Tuesday.

The investment is led by financier Terren Peizer, dubbed the "Zelig of Wall Street", via his personal holding company, Acuitas Group Holdings.

Peizer said he has been following and studying the crypto and blockchain space since its “earliest days,” and had 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.”

"Scalability of a product and company is the leading driver of value creation. Consistently, the most proficiently scalable company becomes the industry leader,” he added.

Other investors in the Series A include Arrington XRP Capital, Consensus Capital, Blockchange Ventures and Axiom Holdings Group, among others. The Series A was fully-subscribed at a pre-money valuation of $30 million, Cliff Sarkin, EVP of Partnerships at CasperLabs, told The Block.

The new funding will be utilized to hire 10-15 people over the next half-year or so across its teams of engineers, architects, and academics, Medha Parlikar, CTO of CasperLabs, told The Block. “We will be investing in our core technical team, as well as important initiatives including ecosystem support, usability and experience, and more," she said. CasperLabs’ current headcount is 28, out of which 21 are part of its core tech team, Parlikar added.

'Scalability trilemma'

CasperLabs said it is working to solve the “scalability trilemma,” as well as building a developer-friendly platform to build and operate decentralized apps (dApps). The effort is being led by one of Ethereum’s lead researchers, Vlad Zamfir, who joined the firm earlier this year.


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