# Aleo Network Foundation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/aleo-network-foundation

- Industry: Internet
- Headquarters: Cheyenne, US
- Website: www.aleo.org
- Total disclosed funding: $221M
- Latest round: Series B (Feb 11, 2022)
- Investors on record: 18

## About

Aleo Network Foundation, based in San Francisco, CA, develops innovative solutions harnessing zero-knowledge technology to empower developers in building secure decentralized applications (dApps).Aleo Network Foundation specializes in the development of zero-knowledge technology solutions for decentralized applications. Founded in 2019 in Cheyenne, US, the company has completed 4 deals, with its latest funding round, raising USD 21.00 mn on January 13, 2025. The founders include John Reynolds, Jonas Fsahaye, and Raymond Chu, while Alex Pruden serves as the CEO.Aleo specializes in developing a comprehensive suite of products centered around zero-knowledge (ZK) technology, aimed at empowering developers to create secure and private decentralized applications (dApps) at scale. The core offerings include Leo, a Rust-based Domain Specific Language (DSL) that simplifies the development of applications by abstracting complex cryptographic processes, and snarkVM, which enhances scalability by allowing off-chain computations while requiring only on-chain proof publication. Additionally, Aleo provides snarkOS, a decentralized operating system that facilitates transaction verification and state storage within its ecosystem. Complementary services such as VXB.ai, a data analytics platform, and AlphaSwap, a platform for confidential token swaps, cater to users seeking to engage with the Aleo blockchain securely. Aleo's products are designed for a global market, reaching developers and users in regions that are rapidly adopting blockchain technology, including North America, Europe, and parts of Asia.Aleo's revenue structure is primarily driven by its platform's utilization and transaction activities, centered around its flagship products. Users engage with the ecosystem through various means, such as deploying applications via Leo, trading tokens on AlphaSwap, or utilizing financial tools from Arcane Finance. The revenue generated is a combination of transaction fees from swaps, staking fees from the Pondo Liquid Staking Protocol, and potential subscription models for advanced features on platforms like VXB.ai. Customers might pay fees based on the volume of transactions or the complexity of services utilized, particularly within the realm of confidential transactions and dApp deployments. Overall, Aleo's business model fosters an interconnected ecosystem, enabling direct transactions between developers and end-users while promoting secure digital asset management.In January 2025, Aleo Network Foundation raised USD 21.00 mn from unspecified investors to bolster its growth initiatives. The company is focused on launching new products that enhance its ZK technology offerings while expanding its market presence in North America, Europe, and Asia. The funds will support the development of innovative tools aimed at improving user engagement and application performance within its ecosystem.

## Funding rounds

- Series B, Feb 11, 2022, $200M — Tiger Global Management, Andreessen Horowitz, Slow, Sea Capital, Samsung NEXT Ventures, SB Investment Advisers, Kora Management Lp
- Series A, Mar 26, 2021, $21M — Andreessen Horowitz, Slow, A Capital Partners, Polychain Capital, Placeholder, Galaxy Asset Management, Emerging Variant Capital Management, Scalar Capital, Coinbase Ventures, Variant, Dekrypt Capital, Ethereal Ventures, Zero Knowledge Validation Limited

## Investors

- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series A, Series B
- Slow (https://capitalatlas.ai/funds/slow) — Series A, Series B
- A Capital Partners (https://capitalatlas.ai/funds/a-capital-partners) — Series A
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Series A
- Placeholder (https://capitalatlas.ai/funds/placeholder) — Series A
- Galaxy Asset Management (https://capitalatlas.ai/funds/galaxy-asset-management) — Series A
- Emerging Variant Capital Management (https://capitalatlas.ai/funds/emerging-variant-capital-management) — Series A
- Scalar Capital — Series A
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series A
- Variant (https://capitalatlas.ai/funds/variant) — Series A
- Dekrypt Capital (https://capitalatlas.ai/funds/dekrypt-capital) — Series A
- Ethereal Ventures (https://capitalatlas.ai/funds/ethereal-ventures) — Series A
- Zero Knowledge Validation Limited — Series A
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B
- Sea Capital — Series B
- Samsung NEXT Ventures (https://capitalatlas.ai/funds/samsung-next-ventures) — Series B
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series B
- Kora Management Lp — Series B