# Swirlds

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

- Industry: Software
- Headquarters: College Station, US
- Website: www.swirlds.com
- Total disclosed funding: $3M
- Latest round: Seed (Sep 14, 2017)
- Investors on record: 1

## About

Swirlds, Inc. is a technology company specializing in the development of the hashgraph consensus algorithm, which enhances the efficiency and security of decentralized applications across various sectors.Founded in 2015 in College Station, US, Swirlds, Inc. focuses on the hashgraph consensus algorithm, essential for the Hedera network. The company has undergone no notable pivots and has not been reported as a subsidiary. The founders, Leemon Baird and Mance Harmon, have a history of innovation in the tech space. In September 2017, the company raised USD 3 mn in a Seed funding round led by New Enterprise Associates, bringing the total amount raised to USD 3 mn.Swirlds, Inc. specializes in developing and deploying the hashgraph consensus algorithm, which powers the Hedera network. This fully distributed platform allows for the creation of decentralized applications that provide secure, stable, and sustainable transactions without traditional server infrastructure. The hashgraph algorithm enhances transaction speed and security while ensuring Byzantine fault tolerance. Released as an open-source project in 2022, it aims to engage developers in building applications utilizing this innovative mechanism. Swirlds serves businesses in various sectors including finance, supply chain, and digital identity across North America, Europe, and Asia.Swirlds, Inc. generates revenue through licensing their hashgraph consensus algorithm and related network services to clients. The business model primarily involves B2B arrangements, where organizations pay fees based on transaction volume or usage. Key services include APIs for account creation, token minting, and smart contract execution, allowing clients to optimize costs and enhance efficiency compared to centralized systems.Swirlds plans to leverage the USD 3 mn raised in Seed funding to enhance product development and expand its market reach. This includes upcoming launches of new functionalities within the hashgraph platform aimed at improving user experience and performance. Swirlds is targeting expansion into the Asian market by the end of 2023 to capture emerging opportunities in decentralized applications.

## Funding rounds

- Seed, Sep 14, 2017, $3M — New Enterprise Associates

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Seed