Runtime Verification, a startup founded in 2010 by Illinois CS professor Grigore Rosu, raised $ 5.3 million in a financing round led by IOSG Ventures. Headquartered in Urbana, Illinois, the company uses runtime verification-based techniques developed by Rosu to perform security audits on virtual machines and smart contracts.
According to the Runtime Verification press release, the investments came from a number of well-known VC firms including Fenbushi Capital, Maven 11, Borderless Capital (Algorand), cFund (Cardano), managed by Wave Financial, Hypersphere (Polkadot), Elrond Research and Tezos Foundation .
The company says the new funding will accelerate the development of tools that improve the security, reliability, and correctness of computer systems for blockchain and embedded systems, and expand the global presence of runtime verification.
“I would like to thank our investors and partners for supporting and reinforcing our mission,” said Rosu. “So far, all of our financing has been done through grants and contracts and not through capital increases. This round of investments is therefore an important step for the company that will accelerate our growth and impact in the blockchain space. “
Read the full runtime review press release.