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

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.