Security Audit Firm Raises $5.3M From Funds Investing in Polkadot, Cardano Blockchains

Runtime Verification checks smart contracts for errors, perhaps most famously with Uniswap.

By Jamie Crawley

Jun 18, 2021 at 12:00 p.m. UTC

Updated Sep 14, 2021 at 1:13 p.m. UTC

Jamie Crawley

Blockchain security auditor Runtime Verification has raised $5.3 million from a handful of prominent backers.

Led by IOSG Ventures, the funding round included investment from Polkadot-focused Hypersphere Ventures, Cardano's cFund, the Tezos Foundation, Elrond Research and Algorand accelerator Borderless Capital.
"The fact that five blockchains joined our investment round through their funds, based on research from their development teams who witnessed our technology, is a testament to the universality and strength of our technology," founder Grigore Rosu said in a statement.
Runtime Verification, founded in 2010, conducts security audits on virtual machines and smart contracts using mathematical verification.
The startup has worked with a number of firms in blockchain and beyond and earned several mentions in founder Hayden Adams' "history of Uniswap" post from 2019.
The Illinois-based firm said it recently created a new business entity in Singapore.

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