StarkWare is a provider of scaling and security solutions to to make blockchain technology more scalable.
StarkWare technology addresses the scalability issues of the Ethereum blockchain, which cause slow throughput and raise gas, or transaction, fees.
StarkWare was founded in 2018 by Eli Ben-Sasson, Uri Kolodny, Michael Riabzev, and Alessandro Chiesa. The company is headquartered in Netanya, Israel.
StarkWare has two platforms. The StarkEx scaling engine, which the company said handles more transactions per month than the Bitcoin network, powers the likes of non-fungible token (NFT) platform Immutable X and decentralized exchange dYdX.
StarkWare's second platform, StarkNet, launched in February 2022, puts blockchain scaling technologies in the hands of developers building decentralized applications.
StarkWare’s offering uses a cryptographic method called STARKs. To date, about half a trillion dollars have been traded on StarkEx.
StarkWare is backed by Paradigm, Sequoia Capital, Greenoaks Capital, Coatue, Founders Fund, Pantera, Alameda Research, and others. The company raised $100M in Series D round on May 25, 2022. This brings StarkWare's total funding to $261M to date. The latest round quadrupled the company's valuation to $8B from the previous $2B gained after Series C round raised in Nov 2021.