About Algorand
Algorand is a company based in Boston (United States) founded in 2017 by Silvio Micali.. Algorand has raised $66 million across 3 funding rounds from investors including China Merchants Bank, Makor Group and Union Square Ventures. The company has 20 employees as of December 31, 2023. Algorand has completed 1 acquisition, including Napster. Algorand operates in a competitive market with competitors including Consensys, Luno, Uphold, Coins.ph and BlockFi, among others.
- Headquarter Boston, United States
- Employees 20 as on 31 Dec, 2023
- Founders Silvio Micali
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Sectors
TechnologyFinancial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Algorand, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$66 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
China Merchants Bank
& 5 more
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Employee Count
20
as on Dec 31, 2023
- Investments & Acquisitions
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Funding Insights of Algorand
Algorand has successfully raised a total of $66M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(15 Feb 2018)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2021 | Amount | Series A - Algorand | Valuation | Makor Group |
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| Oct, 2018 | Amount | Series A - Algorand | Valuation | Union Square Ventures , Pillar VC |
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| Feb, 2018 | Amount | Seed - Algorand | Valuation | Union Square Ventures , Pillar VC |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Algorand
Algorand has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include China Merchants Bank, Makor Group and Union Square Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm focused on blockchain, wellbeing, and multiple sectors
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Founded Year | Domain | Location | |
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Early-stage centric tech-focused VC firm investing in the US
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Founded Year | Domain | Location | |
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Early-stage tech investments are made primarily in US companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Algorand
Algorand has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Napster. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Napster is recognized for providing music streaming platform solutions.
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1999 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Algorand
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Algorand Comparisons
Competitors of Algorand
Algorand operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Consensys, Luno, Uphold, Coins.ph and BlockFi, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Developer of blockchain and web3 software platform
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| domain | founded_year | HQ Location |
Mobile app for storing and trading cryptocurrencies is utilized.
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| domain | founded_year | HQ Location |
App-based wallet and exchange platform for cross-border money transfers
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| domain | founded_year | HQ Location |
Digital wallet for Bitcoin assets
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| domain | founded_year | HQ Location |
Crypto trading, loans, interest accounts, and wallets are offered online.
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| domain | founded_year | HQ Location |
App-based trading and deposit solutions for cryptocurrency are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Algorand
Frequently Asked Questions about Algorand
When was Algorand founded?
Algorand was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Where is Algorand located?
Algorand is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Is Algorand a funded company?
Algorand is a funded company, having raised a total of $66M across 3 funding rounds to date. The company's 1st funding round was a Seed of $4M, raised on Feb 15, 2018.
How many employees does Algorand have?
As of Dec 31, 2023, the latest employee count at Algorand is 20.
What does Algorand do?
Algorand was founded in 2017 and is headquartered in Boston, United States. A blockchain-based network platform is provided for the finance industry, with features including smart contracts for decentralized applications, standard blockchain assets, atomic transfers, and transactional settlement. Services such as decentralized exchanges, digital securities, and asset tokenization are enabled for enterprises. Operations focus on secure and scalable financial solutions.
Who are the top competitors of Algorand?
How many acquisitions has Algorand made?
Algorand has made 1 acquisition, including Napster.
Who are Algorand's investors?
Algorand has 6 investors. Key investors include China Merchants Bank, Makor Group, Union Square Ventures, Pillar VC, and Slow Ventures.
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