Aleo Valuation, Funding & Investors

Aleo is valued at $1.4B as of February 2022.

See full Aleo profile

Last Aleo valuation

$1.4B

Series B · Feb 2022

Last Aleo funding round

$21M

Undisclosed stage · Jan 2025

Cumulative funding Aleo raised

$249M

across 3 funding rounds

Key investors in Aleo

Aleo Overview

About Aleo

Aleo is a Raleigh, North Carolina-headquartered blockchain platform enabling fully private applications via zero-knowledge proofs. Developers use its toolkit featuring the Leo programming language, a statically-typed system for private apps, and an autonomous runtime for compiling, executing, and finalizing state on the Aleo network. The project fosters community engagement through blogs and testnet incentives.


Founded

2019

HQ

United StatesSan Francisco, CA

Website

aleo.org

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$1.4B (Feb 2022)

Aleo Valuation

Aleo is currently valued at $1.4B, based on its Series B in February 2022.

The $200M round was led by Kora and SoftBank Group, with participation from Samsung NEXT, Slow Ventures, Sea, Andreessen Horowitz and Tiger Global.

Aleo valuation by funding round

Aleo valuation by funding round
DateStageValuation
Feb 2022Series B$1.4B

Aleo Funding History

Aleo has raised a total of $249M across 3 funding rounds.

Aleo's first fundraising round was a $28M Series A in April 2021. The most recent completed round was a $21M undisclosed-stage round in January 2025.

Aleo funding rounds

Aleo funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2025Undisclosed stage-$21M-Aleo is a privacy-focused blockchain platform founded in 2018 that addresses privacy and scalability challenges in the blockchain space. The platform enables decentralized applications including gaming, DeFi, and financial transactions through zero-knowledge proof technology. Aleo formally launched its mainnet in September 2024, which attracted over 350 projects including privacy DeFi protocols and cross-chain bridges. The project has focused ecosystem development and achieved mainnet deployment, with the token trading on multiple exchanges following its public launch. The company raised $200 million in its Series B funding round in February 2022 at a $1.45 billion valuation, with lead investors Kora Management and SoftBank Vision Fund 2, alongside a16z, Tiger Global, Samsung Next, and others.
Feb 2022Series BKora (lead); SoftBank Group (lead); Samsung NEXT; Slow Ventures; Sea; Andreessen Horowitz; Tiger Global$200M$1.4BAleo is a platform for building private blockchain-based applications using zero-knowledge proofs, focusing on privacy and scalability as a Layer 1 blockchain. The company raised $200 million in a Series B funding round on February 7, 2022, led by Kora Management LP and SoftBank Vision Fund 2, with participation from Tiger Global, Sea Capital, Samsung Next, Slow Ventures, and Andreessen Horowitz (a16z). This round valued Aleo at $1.45 billion post-money, boosting its total funding to $228 million including a prior $28 million Series A in April 2021 led by a16z. The funds are intended to expand products and services built on Aleo's decentralized network, develop an ecosystem for applications in gaming, DeFi, and financial transactions, and prepare for mainnet launch later in 2022. Aleo has released tools like Aleo Studio, a development environment for zero-knowledge proofs, and Leo, a new programming language to simplify app deployment. The platform aims to address key blockchain challenges of privacy and scalability, enabling mass-market use cases while protecting user identity. At the time, Aleo's testnet was live, with mainnet planned soon, where validator nodes would be rewarded with native Aleo Credits for computational resources. Investors highlighted Aleo's potential to catalyze Web3 growth through secure, scalable infrastructure.
Apr 2021Series AAndreessen Horowitz (lead)$28M-Aleo is a Layer 1 blockchain platform focused on scalability and user privacy using zero-knowledge proofs, enabling developers to build private decentralized applications with off-chain computations verified on-chain. Founded based on research by CEO and CTO Howard Wu on the ZeXe cryptographic primitive, Aleo differentiates from chains like Ethereum by processing transactions off-chain for higher volumes. The company closed a $28 million Series A funding round in April 2021 led by Andreessen Horowitz (a16z). In February 2022, Aleo raised $200 million in a Series B round led by Kora Management and SoftBank Vision Fund 2, with participation from Tiger Global, Sea Capital, Samsung Next, Slow Ventures, and Andreessen Horowitz, at a $1.45 billion valuation. The funds were intended to expand products and services ahead of its mainnet launch, supporting an ecosystem for privacy-enabled dApps bridging Web 2.0 and Web 3.0. Aleo had conducted a record-breaking setup ceremony and incentivized testnet prior to this. As of early 2022 reporting, Aleo had raised a total of about $228 million across rounds, later updated to $298 million including an extended Series B of $70 million. The platform aimed to reward validator nodes with its native Aleo Credits token upon mainnet launch.

Who has invested in Aleo?

7 investors have backed Aleo across its funding rounds, including Andreessen Horowitz, Tiger Global, SoftBank Group, Slow Ventures, Samsung NEXT and Sea.

Lead investors include Kora, SoftBank Group and Andreessen Horowitz.


Aleo Investors

Investors in Aleo by funding rounds participated
InvestorHQRoundsRoleFirst check
Andreessen HorowitzUnited StatesSan Francisco, CA2LeadApr 2021
KoraUnited StatesNew York City, NY1LeadFeb 2022
Samsung NEXTUnited StatesSan Francisco, CA1ParticipantFeb 2022
SoftBank GroupJapanTokyo1LeadFeb 2022
Slow VenturesUnited StatesSan Francisco, CA1ParticipantFeb 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Investments by Aleo

Aleo has invested in 2 companies to date.

Latest investment by Aleo was on April 25th 2023. Aleo invested in IDPartner in their $3M Seed round.


Latest Investments by Aleo

IDPartner
Veridise
Description
IDPartner is a Paris-based startup offering online identity verification via a network of European financial institutions and databases. Its API enables KYC checks for fintechs and e-commerce in under 30 seconds using document scanning and biometric validation.
Veridise is a blockchain security auditing firm specializing in zero-knowledge circuits, MetaMask Snaps, smart contracts, Layer 2 networks, DeFi protocols, crypto wallets, tokens, and NFTs. New York-based, the company combines manual audits with automated Web3 tools to uncover vulnerabilities overlooked by competitors, identifying over 100 high-severity bugs in the first half of 2023. Veridise delivers detailed reports for projects on Ethereum, Polygon, and other chains, serving developers building decentralized applications worldwide.
HQ CountryUnited StatesUnited States
HQ City
San Francisco, CA
Austin, TX
Deal Date25 Apr 20231 Jun 2022
RoundSeedSeed
Raised$3M$5M
InvestorsCircle Ventures; FirsthandVC; Abstract; Correlation Ventures; Foundation Capital; Success Venturedao5; Ethereum Foundation; Foresight Ventures; Coinbase Ventures; Manta Network; Polychain; ConsenSys; Hack VC
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Aleo Competitors

Aleo competitors include listed companies like Securitize and OSL Group, and private ones like 5ire, Berachain, Boba Network and CoinList.

Public and private companies comparable to Aleo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SecuritizeUnited StatesUnited StatesPublicly listed$62M($34M)$1.5B22.2x
5ireIndiaIndiaPrivate--$1.5B-
BerachainCanadaTorontoPrivate--$1.5B-
Boba NetworkUnited StatesSan Francisco, CAPrivate--$1.5B-
CoinListUnited StatesSan Francisco, CAPrivate--$1.5B-
OSL GroupHong KongHong KongPublicly listed$62M($48M)$1.2B11.3x

Aleo Public Comps

Aleo is still privately-owned, but its public comps include Securitize, OSL Group, Sharplink, HashKey Holdings, BitGo Holdings, Indokripto Koin Semesta, Rhino Bitcoin, Stewards, Coincheck Group and Bakkt.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Securitize$62M($34M)25.5x22.2x(46.0x)(37910.8x)
OSL Group$62M($48M)16.6x11.3x(21.7x)(23.2x)
Sharplink$28M($734M)61.9x39.9x(2.4x)141.1x
HashKey Holdings$92M($109M)6.4x-(5.4x)-
BitGo Holdings$16B($9M)0.1x5.5x(125.1x)125.4x
Indokripto Koin Semesta$16M$7M36.9x-81.1x-
Rhino Bitcoin$478K($417K)1242.8x-(1423.4x)-
Stewards------

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Common questions about Aleo

When was Aleo founded?Aleo was founded in 2019.
Where is Aleo headquartered?Aleo is headquartered in San Francisco, CA, United States.
Is Aleo publicly listed?No, Aleo is a private, VC-backed company.
What is Aleo's valuation?Aleo was last valued at $1.4B in its Series B in February 2022.
How much funding has Aleo raised?Aleo has raised $249M across 3 funding rounds.
What was Aleo's last funding round?Aleo's last funding round was a $21M undisclosed-stage round in January 2025.
Who are Aleo's investors?Aleo's investors include Andreessen Horowitz, Kora, Samsung NEXT, SoftBank Group, Slow Ventures, Sea and Tiger Global.
Which companies are comparable to Aleo?Companies comparable to Aleo include Securitize, 5ire, Berachain, Boba Network, CoinList and OSL Group.
How many companies has Aleo invested in?Aleo has invested in 2 companies, including IDPartner and Veridise.
What was Aleo's last investment?In April 2023, Aleo invested in IDPartner's $3M seed round alongside Circle Ventures, FirsthandVC, Abstract and 3 other investors.

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