Chaos Labs, a New York-based blockchain security company, has raised $55 million in a Series A funding round.
The round was led by Haun Ventures and included contributions from PayPal, Lightspeed, Galaxy Ventures and Wintermute. New investors F-Prime Capital, Slow Ventures and The Spartan Group also participated.
Chaos Labs offers a cloud-based platform that helps DeFi protocols identify potential risks and harden their systems. Using advanced simulations, they help platforms test how well their systems can handle different scenarios and market conditions. The company’s clients include well-known DeFi protocols like Aave, GMX, and Jupiter.
To date, Chaos Labs has helped secure $860 billion in trading volume, $25 billion in loans, and $35 million in incentives across 20+ crypto platforms.
Chaos Labs plans to use the new funding to further develop tools that provide real-time updates to DeFi platforms based on current market conditions. The company believes that improving these systems is essential for DeFi to effectively compete with traditional finance.
This new funding round follows a $20 million seed round in February 2023, led by PayPal and Galaxy Ventures.
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