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Forta
Decentralized cybersecurity network
- 21-100 employees
- B2B
- Machine Learning
- Cyber Security
- Web 3.0
- Fraud
- Walnut, CA
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Company mission
To be the leading decentralized security & operational monitoring network for Web3 infrastructure, developers, and investors.
Our take
As public blockchains increase in size and complexity, so do the risks they face from cybercriminals. Notable recent heists included the $625 million Ronin Bridge incident and the Wormhole hack which saw $325 million stolen from the Solana to Ethereum Bridge. As centralized authorities struggle to keep up with Web3 security, the blockchain community needs to develop its own tools to protect its infrastructure. Enter Forta, a decentralized security network for Web3.
At its most basic, the Forta network is made up of bots and nodes. Using its own token to ensure the performance of the developers on the network, this approach allows for a decentralized response to a decentralized problem. It is an approach that has been taken up by a large portion of the Web3 community: Forta now monitors over $30 billion in value across its network.
Forta has completed a funding round led by Andreessen Horowitz (a16z) and Open Zepellin. It has used this investment to incentivize its developer base and grow its network, leading to an over-subscribed issuing of its FORT token. While it is not immune to the market forces pushing against blockchain technology currently, its vital contribution to Web3 infrastructure and the size of its developer community are excellent signs that it has a bright future ahead.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- Medical Insurance: Top quality insurance options for you
- Paid leave for new parents
- Team Events: Company retreats in different locations around the world
Funding (1 round)
Sep 2021
$23m
EARLY VC
Total funding: $23m
This company has top investors