# Spilsbury Holdings

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spilsbury-holdings

- Industry: Software
- Headquarters: London, UK
- Website: www.aztec.network
- Total disclosed funding: $101M
- Latest round: Series B (Sep 9, 2022)
- Investors on record: 9

## About

Spilsbury Holdings is a technology company focused on providing privacy-enhancing solutions through its innovative Layer 2 platform built on Ethereum, enabling secure transactions and applications.Founded in 2017, Spilsbury Holdings operates out of London, UK, and specializes in blockchain technology. The company has undergone strategic pivots to enhance its offerings and currently has no known subsidiaries. Zachary Williamson, the founder, has a background in technology and entrepreneurship. Spilsbury has secured a total of USD 83.72 mn through its latest funding round, Series B, led by Andreessen Horowitz, and has achieved a current valuation of USD 579.88 mn. The company has completed two deals, with the most recent taking place on September 9, 2022.Aztec, the core product of Spilsbury Holdings, offers a pioneering Layer 2 solution on the Ethereum blockchain aimed at enhancing privacy and security through confidential transactions while ensuring public verifiability. It allows developers to integrate programmable privacy into finance, identity management, and gaming applications. Utilizing a privacy-first programming language called Noir, Aztec enables the creation and execution of private smart contracts, serving a diverse client base focused on global markets with increasing regulatory scrutiny over data privacy.The revenue model of Spilsbury Holdings is primarily based on partnerships with developers and enterprises that utilize its privacy-enhancing technology. This includes usage fees for deploying smart contracts on the Aztec network, as well as subscription models for advanced features and support services. The pricing structures are tailored to accommodate varying levels of integration, focusing on the ability to build and manage private transactions that help clients comply with strict regulatory requirements.In September 2022, Spilsbury Holdings raised USD 83.72 mn in Series B funding to accelerate product development and hire additional staff. The company is planning to expand its product offerings and enhance its Layer 2 solutions, with specific releases aimed at improving integration capabilities. Additionally, Spilsbury is targeting expansion into new geographic markets, particularly those facing stringent data privacy laws, to broaden its client base and foster adoption of its privacy-preserving technologies.

## Funding rounds

- Series B, Sep 9, 2022, $84M — Andreessen Horowitz, A Capital Partners, Alumni Ventures Group, Libertus Capital, Variant, Paradigm, Ethereal Ventures
- Series A, Sep 20, 2021, $17M — Paradigm, A Capital Partners, Scalar Capital, Libertus Capital, Variant, Ethereal Ventures, IOSG Ventures

## Investors

- Paradigm (https://capitalatlas.ai/funds/paradigm) — Series A, Series B
- A Capital Partners (https://capitalatlas.ai/funds/a-capital-partners) — Series A, Series B
- Scalar Capital — Series A
- Libertus Capital (https://capitalatlas.ai/funds/libertus-capital) — Series A, Series B
- Variant (https://capitalatlas.ai/funds/variant) — Series A, Series B
- Ethereal Ventures (https://capitalatlas.ai/funds/ethereal-ventures) — Series A, Series B
- IOSG Ventures (https://capitalatlas.ai/funds/iosg-ventures) — Series A
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B