March 06, 2024
Firewall, a blockchain security infrastructure firm, announced it had raised $3.7 million in a pre-seed funding round. This round was co-led by North Island Ventures, Breyer Capital, and Hack VC. The capital will be used to expand Firewall’s team, enhance its technology, and support community-building and marketing initiatives.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
---|---|---|---|---|---|---|
Firewall | Mar 6, 2024 | $3.7M | Pre-Seed | $3.7M | North Island Ventures | Security |
Firewall is developing a security solution for blockchain networks aimed at preventing smart contract exploits. Unlike traditional network firewalls, which monitor transactions based on predefined security criteria, Firewall employs rollups, which aggregate multiple transactions into a single batch, and programmable transaction finalization rules to intercept exploits before they are recorded on the blockchain. Additionally, the firm is developing a proof-of-exploit consensus mechanism to classify smart contract exploits as invalid state transitions, ensuring they are reversed.
The funding will support Firewall’s efforts to grow its team, currently composed of six full-time employees, and to enhance its technological capabilities. The firm aims to provide robust security measures for blockchain networks, addressing vulnerabilities associated with smart contract exploits.
About Firewall:Â
Firewall is a blockchain security infrastructure firm based in San Francisco, California. The company focuses on developing security solutions to prevent smart contract exploits and enhance the safety of blockchain networks. By leveraging advanced technologies and programmable rules, Firewall aims to provide a secure and reliable blockchain infrastructure.
Website:Â https://usefirewall.com/
X Account:Â https://x.com/UseFirewall
X Followers today:Â 709
About Investor
Investor:Â North Island Ventures
North Island Ventures is a venture capital firm that invests in blockchain and cryptocurrency projects. The firm supports solutions that advance the decentralized finance ecosystem.
Location:Â United States
Website:Â https://northisland.venturesÂ
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