# Succinct

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/succinct

- Industry: Software
- Headquarters: South San Francisco, US
- Website: www.succinct.xyz
- Total disclosed funding: $54M
- Latest round: Series A (Mar 20, 2024)
- Investors on record: 6

## About

Based in California, US, and founded in 2022, Succinct operates as a software development company offering an open-source zero-knowledge virtual machine. In March 2024, the firm raised USD 55 million in series A funding led by investor Paradigm, with participation from other investors Bankless Ventures, Geometry Research, Zero Knowledge Validation Limited, and Robot Ventures.

The company engages in democratizing zero-knowledge proofs (ZKPs) by making them accessible to developers, organizations, and blockchain projects of any level. Succinct offers SP1, an open-source zkVM (zero-knowledge virtual machine) that allows developers to write efficient and easy-to-understand ZKPs in Rust without compromising on performance. SP1 also enables developers to reuse existing libraries for enhanced auditability, and generate proofs. 

The company plans to utilize the March 2024 funding to make zero-knowledge proofs widely accessible and to enhance technology development.

## Funding rounds

- Series A, Mar 20, 2024, $43M — Robot Ventures, Paradigm, Zero Knowledge Validation Limited, Geometry, Bankless Ventures
- Seed, Nov 22, 2022, $11M — Robot Ventures, Paradigm, Standard Crypto

## Investors

- Robot Ventures (https://capitalatlas.ai/funds/robot-ventures) — Seed, Series A
- Paradigm (https://capitalatlas.ai/funds/paradigm) — Seed, Series A
- Standard Crypto — Seed
- Zero Knowledge Validation Limited — Series A
- Geometry (https://capitalatlas.ai/funds/geometry) — Series A
- Bankless Ventures (https://capitalatlas.ai/funds/bankless-ventures) — Series A