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Aleo has raised $228.0M across 2 funding rounds.
Key people at Aleo.
Aleo has raised $228.0M in total across 2 funding rounds.
Aleo is a San Francisco-based Layer-1 blockchain platform powered by zero-knowledge cryptography that enables developers to build private and scalable decentralized applications. The network allows users to interact with web applications and execute smart contracts without revealing their underlying personal data, targeting enterprise and consumer use cases across decentralized finance, digital identity, and gaming. The blockchain company has reached a $1.45 billion valuation after securing $298 million in total venture funding, which includes a $200 million Series B round. The ecosystem currently supports over 200 zero-knowledge native applications, 10,000 deployed programs, and a community of more than 500,000 active Discord members. The enterprise is backed by prominent institutional investors such as Andreessen Horowitz, SoftBank Vision Fund 2, Coinbase Ventures, and Galaxy Digital. Aleo was founded in 2019 by Howard Wu, Michael Beller, Collin Chin, and Raymond Chu.
Key people at Aleo.
Aleo has raised $228.0M across 2 funding rounds. Most recently, it raised $200.0M Series B in February 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Apr 1, 2023 | IDPartner | $3.0M Seed | Abstract Ventures | Andreessen Horowitz, Bain Capital Ventures, Gradient Ventures, Aaron Vandevender, JOE Grundfest, Lance Armstrong, Circle Ventures, Correlation Ventures, Firsthand Alliance, Foundation Capital, Success Venture Partners |
| Nov 1, 2022 | Nucleo | $4.0M Seed | Bain Capital Crypto, Mike Dudas | Bain Capital Ventures, Chicago Ventures, Founders Fund, G2vp, JB Straubel, Zachary Williamson, Espresso Systems |
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2022 | $200M Series B | — | 01 Advisors, Haun Ventures, Kleiner Perkins, Lazerow Ventures, Lightspeed Venture Partners | Announced |
| Apr 1, 2021 | $28M Series A | — | 01 Advisors, 8 BIT Capital, AME Cloud Ventures, Bain Capital Ventures, Benchmark, Caffeinated Capital, Coral (coral Defi), Greylock, Hardware Club, Haun Ventures, Ignition Partners, Kleiner Perkins, Lazerow Ventures, Lightspeed Venture Partners, Lowercarbon Capital, Morado Venture Partners, Pareto Holdings, Sequoia Capital, Tribe Capital, Kenny VAN Zant, Matt Mazzeo | Announced |
Aleo has raised $228.0M in total across 2 funding rounds.
Aleo's investors include 01 Advisors, Haun Ventures, Kleiner Perkins, Lazerow Ventures, Lightspeed Venture Partners, 8-Bit Capital, AME Cloud Ventures, Bain Capital Ventures, Benchmark, Caffeinated Capital, Coral (Coral Defi), Greylock.
Aleo is a Layer 1 blockchain platform and developer ecosystem focused on enabling fully private, scalable applications through zero-knowledge proofs (ZKPs) and decentralized systems.[1][2][3] It builds a privacy-by-default blockchain that supports smart contract execution off-chain, solving blockchain's transparency issues by hiding transaction data while maintaining scalability up to thousands of transactions per second.[1][2][3] Aleo serves developers and users seeking private decentralized apps (dApps), such as in gaming economies or machine learning, with its native token ALEO powering the network; it has raised $228M in funding, including a $200M Series B in 2022, and launched mainnet trading in 2024 amid growing privacy demands.[1][2]
Growth momentum includes partnerships like with Forte for blockchain gaming, establishment of the Aleo Foundation in 2023, and token metrics showing an all-time high of $6.72 in September 2024, though trading at $0.1339 as of late 2025 with a total supply of ~1.89B ALEO.[1][2][5]
Aleo was established in 2019 in San Francisco, California, as Aleo Systems, with a mission to pioneer privacy in blockchain via ZKPs and applied cryptography.[1][3][4] Founders, backed by research underpinning ZK technology, emerged from the need to address blockchain's public data shortcomings, creating a platform for private-by-default apps.[1][3][4] Early traction came via a $28M Series A in April 2021, followed by the landmark $200M Series B in February 2022 led by Kora Management and SoftBank Vision Fund 2, valuing it at $1.45B and fueling development.[1][2] Pivotal moments include the 2023 Aleo Foundation launch for ecosystem governance and 2024 mainnet trading activation, marking its shift to a live, open-source network.[2]
Aleo rides the zero-knowledge privacy trend in blockchain, countering public ledgers' adoption barriers amid rising data sovereignty demands from regulations like GDPR and Web3 growth.[1][3][4] Timing aligns with ZK tech maturation post-2021 Ethereum upgrades and 2024 scaling booms (e.g., ZKsync, Scroll), positioning Aleo as a specialized L1 for confidential dApps in gaming, DeFi, and AI.[1][2][5] Market forces favoring it include exploding ZKP demand for scalable privacy—evident in its funding and partnerships—while influencing the ecosystem by expanding smart contract security to include confidentiality, inspiring developer sandboxes, and funding open-source cryptography tools.[3][4]
Aleo's path forward hinges on mainnet adoption post-2024 launch, with potential for explosive growth in private dApps as ZK standards mature and tokens rebound from 2025 lows.[2][5] Trends like AI-blockchain integration and regulatory privacy pushes will amplify its edge, evolving its influence from pioneer to ecosystem hub via grants and tools.[4] As the first private-by-default blockchain, Aleo could redefine Web3 scalability, tying back to its core promise of unbounded, private compute in a transparent world.[1][3]
