# Merit Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/merit-systems

- Industry: Software
- Headquarters: New York, US
- Website: www.merit.systems
- Total disclosed funding: $9.7M
- Latest round: Seed (Oct 1, 2024)
- Investors on record: 2

## About

Based in New York, US, and founded in 2024 by Chief Executive Officer Sam Ragsdale, and Chief Technology Officer Ryan Sproule, Merit Systems developed a protocol for open-source projects that track developers’ contributions and share rewards accordingly. In January 2025, Merit Systems raised USD 10 million in seed funding co-led by Andreessen Horowitz and Blockchain Capital.

Merit Systems specializes in developing a platform that facilitates attribution and ownership within the open-source software development community. Its offerings include a system that directly connects builders with capital, thereby incentivizing contributions and merit-based ownership distribution. The company’s platform focuses on supporting both seasoned and developers. As of 2025, the firm serves in various locations such as North America, Europe, and parts of Asia.

## Funding rounds

- Seed, Oct 1, 2024, $9.7M — Andreessen Horowitz, Blockchain Capital

## Investors

- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed
- Blockchain Capital (https://capitalatlas.ai/funds/blockchain-capital) — Seed