Risk management firm Chaos Labs said Tuesday it has raised $55 million in a Series A investment round led by Haun Ventures and including several high-profile angel investors such as Solana founder Anatoly Yakovenko and OpenAI CPO Kevin Weil.
“Most of the funds are going to go towards developing technology, recruiting, and extending the engineering and research team,” Chaos Labs founder Omer Goldberg told Unchained. “We’re going to expand the team to meet the demand of the market and also ensure that we can execute against the engineering roadmap and research roadmap in a timely fashion.”
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Chaos Labs has a software-as-a-service business model focused on helping applications that have billions of dollars in total value locked and doing hundreds of billions in notional trading volume. According to a press release, “In the past year, Chaos Labs tripled its customer base and, today, more than 20 protocols including Aave, GMX, and Jupiter, rely on Chaos Labs to secure, monitor, and grow their products.”
Chaos Labs aids protocols by analyzing market data and contextualizing it to turn the data into “something actionable that can secure them [the protocols] and also increase their revenues,” Goldberg said.
Other investors participating in Chaos Labs’ Series A funding round included F-Prime Capital, Slow Ventures, and Spartan Capital, joining a list of existing backers such as Galaxy Ventures, Wintermute Ventures, PayPal Ventures, and Coinbase Ventures.
