About Succinct
Succinct is a company based in San Francisco (United States) founded in 2021.. Succinct has raised $66.1 million across 2 funding rounds from investors including Paradigm, Robot Ventures and Bankless Ventures. Succinct offers products and services including SP1, Prover Network, and APIs. Succinct operates in a competitive market with competitors including Binance, Solana, Chain, Ankr and Mysten Labs, among others.
- Headquarter San Francisco, United States
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Sectors
Technology
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$66.1 M (USD)
in 2 rounds
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Latest Funding Round
$55 M (USD), Series A
Mar 22, 2024
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Investors
Paradigm
& 8 more
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Employee Count
Employee Count
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Products & Services of Succinct
Succinct offers a comprehensive portfolio of products and services, including SP1, Prover Network, and APIs. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Fast virtual machine for generating zero-knowledge proofs securely
Cost-effective APIs for reliable proof generation and uptime
Services for proving computations on various blockchains
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Funding Insights of Succinct
Succinct has successfully raised a total of $66.1M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $55 million completed in March 2024. 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 2
- Last Round Series A — $55.0M
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First Round
First Round
(01 Dec 2022)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series A - Succinct | Valuation | Paradigm , Robot Ventures | |
| Dec, 2022 | Amount | Series A - Succinct | Valuation |
investors |
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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 Succinct
Succinct has secured backing from 9 investors, including venture fund and angel investors. Prominent investors backing the company include Paradigm, Robot Ventures and Bankless 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 investments are directed toward crypto-assets and Web3 businesses.
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Founded Year | Domain | Location | |
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Robot Ventures is associated with technology or robotics.
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Founded Year | Domain | Location | |
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Bankless Ventures is focused on investing in Web3 pioneers.
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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 Succinct
| 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 |
Financial Statements - Succinct
| 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 |
Succinct Comparisons
Competitors of Succinct
Succinct 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 Binance, Solana, Chain, Ankr and Mysten Labs, 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 |
Online exchange platform for cryptocurrency
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| domain | founded_year | HQ Location |
Blockchain infrastructure for transactions and counting is provided by Solana.
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| domain | founded_year | HQ Location |
Blockchain infrastructure is offered for financial application development.
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| domain | founded_year | HQ Location |
Web3-native infrastructure for blockchain development and decentralization is provided.
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| domain | founded_year | HQ Location |
Web3 infrastructure solutions are offered via a blockchain platform.
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| domain | founded_year | HQ Location |
Provider of a blockchain network
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Succinct
Frequently Asked Questions about Succinct
When was Succinct founded?
Succinct was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Succinct located?
Succinct is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Is Succinct a funded company?
Succinct is a funded company, having raised a total of $66.1M across 2 funding rounds to date. The company's 1st funding round was a Series A of $11.1M, raised on Dec 01, 2022.
What does Succinct do?
Succinct was founded in 2021 in San Francisco, United States, within the blockchain sector. A decentralized open-source interoperability layer is operated, allowing secure reading of the Ethereum state across various chains. Blockchain networks can be built, deployed, and proven by users through this platform. Operations focus on cross-chain compatibility and verification services for developers and enterprises.
Who are the top competitors of Succinct?
Succinct's top competitors include Binance, Mysten Labs and Solana.
What products or services does Succinct offer?
Succinct offers SP1, Prover Network, and APIs.
Who are Succinct's investors?
Succinct has 9 investors. Key investors include Paradigm, Robot Ventures, Bankless Ventures, Sreeram Kannan, and Sandeep Nailwal.