Total amount raised
$44.8 Millions
Latest funding date
4/1/2023
Location
Gauntlet has successfully raised funding through multiple rounds, with notable investors including Uniswap Foundation and Ribbit Capital. The company specializes in risk management solutions for cryptocurrency businesses, offering products like Gauntlet Risk for DeFi Protocols and Gauntlet Applied Research.
Keep reading to explore the intricacies of Gauntlet's fundraising journey and the investors backing this innovative platform.
What Is Gauntlet?
Gauntlet, founded in 2018, is a fintech company based in Brooklyn, New York. The company specializes in economic modeling and risk management for the cryptocurrency and decentralized finance (DeFi) sectors.
Founded by John Morrow, Rei Chiang, and Tarun Chitra, Gauntlet focuses on driving sustainable growth for crypto protocols, chains, and onchain treasuries through applied research and optimization.
With a team of 51-100 employees, Gauntlet provides full-service economic risk management, ecosystem risk infrastructure and advisory, incentive optimization, and custom research.
How Much Funding Has Gauntlet Raised?
- Seed Round
- Amount Raised: $2.9M
- Date: November 2018
- Lead Investors: First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial products.
- Seed Round
- Amount Raised: $4.4M
- Date: September 2020
- Lead Investors: Paradigm
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance product offerings.
- Series A
- Amount Raised: $13.6M
- Date: June 2021
- Lead Investors: Polychain
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve risk management solutions.
- Series B
- Amount Raised: $23.8M
- Date: March 2022
- Lead Investors: Ribbit Capital
- Valuation at Round: $1 billion
- Motivation Behind the Round: To hire new talent and expand into new client categories, including gaming.
- Grant
- Amount Raised: -
- Date: April 2023
- Lead Investors: Uniswap Customer Support
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
Total Amount Raised: $44.7M. Current Valuation: $1 billion.
Key Investors
- Uniswap Foundation
- Details: The Uniswap Foundation is closely associated with Uniswap, a leading decentralized trading protocol in the DeFi ecosystem. It aims to support projects that enhance the Uniswap ecosystem and broader DeFi space.
- Investment Focus Areas: DeFi, blockchain, decentralized exchanges.
- Notable Investments: Primarily invests in projects that contribute to the Uniswap ecosystem.
- Ribbit Capital
- Details: Ribbit Capital is a venture capital firm that invests in early-stage companies in the financial services sector. It led Gauntlet's $23.8 million Series B funding round.
- Investment Focus Areas: Financial services, fintech, cryptocurrency.
- Notable Investments: Coinbase, Robinhood, Revolut.
- Polychain Capital
- Details: Polychain Capital is a venture capital firm that specializes in investments in blockchain and cryptocurrency projects. It participated in Gauntlet's Series B funding round.
- Investment Focus Areas: Blockchain, cryptocurrency, decentralized finance.
- Notable Investments: Dfinity, Filecoin, Tezos.
- Paradigm
- Details: Paradigm is an investment firm focused on supporting crypto and blockchain-related companies. It led Gauntlet's $4.4 million seed round in September 2020.
- Investment Focus Areas: Cryptocurrency, blockchain, decentralized finance.
- Notable Investments: Uniswap, FTX, Optimism.
- First Round Capital
- Details: First Round Capital is a venture capital firm that invests in seed-stage technology companies. It led Gauntlet's initial $2.9 million seed round in November 2018.
- Investment Focus Areas: Technology, fintech, consumer internet.
- Notable Investments: Uber, Square, Roblox.
What's Next for Gauntlet?
Gauntlet is poised to capitalize on the burgeoning DeFi market, with opportunities to expand into new client categories like gaming. The company's valuation has already hit $1 billion, and clients such as Aave and Compound contribute over $5 million annually, underscoring the significant revenue potential.
Future fundraising appears promising, given the growing interest from venture capitalists in crypto-analytics firms. However, Gauntlet will need to navigate challenges such as increasing data complexity and ensuring their platform can scale across multiple blockchain networks. Maintaining rigorous due diligence will be crucial as they continue to grow.
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