Israeli onchain risk management company Chaos Labs today announced the completion of a $55 million Series A financing round led by Haun Ventures with new investors including F-Prime Capital, Slow Ventures, and Spartan Capital. Existing investors Lightspeed Venture Partners, Galaxy Ventures, Wintermute Ventures, PayPal Ventures, General Catalyst, Bessemer Venture Partners, and Coinbase Ventures also participated. The round also attracted strategic angel investors, including Kevin Weil (OpenAI CPO), Michael Shaulov (Fireblocks CEO), Anatoly Yakovenko (Solana CEO), Francesco Agosti (Phantom CTO), and Anton Katz (Talos CEO).
The investment, is aimed at scaling onchain economic security and Chaos Labs will use the proceeds to speed up development of its cutting-edge risk management platform. The platform features enhanced observability tooling, innovative risk oracles, and real-time parameter recommendations.
Over the past year, Chaos Labs says it has tripled its customer base and, today, more than 20 protocols including Aave, GMX, and Jupiter, rely on Chaos Labs to secure, monitor, and grow their products. Chaos Labs technology has secured $765 billion in cumulative trading volume, $25 billion in loans, and $35 million in incentives.
Chaos Labs vision is to empower decentralized applications with contextualized data to improve risk management, and economic security posture, while increasing capital efficiency and achieving performance parity with their centralized counterparts.
Chaos Labs founder and CEO omer Goldberg says, "Our north star has always been high quality data informing high quality risk management. Crypto is among the most volatile asset classes today. Yet, most DeFi applications remain static, relying on stale parameters that take hours or days to update. The future of decentralized finance needs modern, dynamic data infrastructure."
He added, "Offchain data and onchain risk are inextricably linked. Market context, including volatility, liquidity depth, and bid-ask spread, is essential for real-time adjustments in high-frequency trading applications."
Goldberg continued, "Chaos Labs is building new products which merge previously siloed offchain market data, observability, and alerting with dynamic risk parameter adjustments. This new technology will enable instant updates which reflect current market conditions; real-time, responsive, and secure."
"We're catching up to our CeFi counterparts and this is where it's going," he concluded.
Chaos Labs has offices in Tel Aviv and New York.
Published by Globes, Israel business news - en.globes.co.il - on August 15, 2024.
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