StarkWare raises $100M and quadruples capitalization

Blockchain company StarkWare announced that it is using a $100 million investment to develop an ecosystem around the software tools it creates.

StarkWare raised $100M in its latest investment round. The market valuation of the company has risen to $8 billion, which means a fourfold increase in value six months after the previous November investment round. Current investment round headed
technology company Greenoaks Capital, as well as Tiger Global and investment company Coatue.

StarkWare is known as a major developer in the Tier 2 scaling space, with a proven track record of higher transaction throughput than the Bitcoin network and other Tier 2 platforms. The company uses aggregation technology to create zero-knowledge proofs. StarkWare representatives say they can add massive batches of transactions to the Ethereum main network.

Eli Ben-Sasson, co-founder and president of the company, developed ZK-STARK technology with his team, which he calls the new generation of cryptocurrency technologies for encrypting and verifying transaction data. The technology called for greater security, resilience and scalability of operations.

According to the head of StarkWare, the developers know that their technology is focused on the long term:

“We have a difficult and responsible mission to develop a technology that did not exist before and bring it to the market in the form of a software product offering with a ready-made ecosystem. All this requires patience and more resources so that we can focus on the long term.”

Earlier, StarkWare analysts conducted a study and found that most US citizens consider cryptocurrencies to be a catalyst for a revolution in the financial system.