Swirlds develops the hashgraph distributed consensus platform for building fully distributed applications (shared worlds) that require high throughput, low latency, and fair transaction ordering. The patented hashgraph algorithm—developed by Co‑Founder and CTO Leemon Baird—requires neither Proof of Work nor a leader, and the company says it delivers resilience to DDoS attacks and very high transactions‑per‑second performance. Since launching last year the platform has gained traction across gaming, online collaboration, and financial services, with pilot programs underway at large financial consortia and technology companies. Swirlds positions its technology as an alternative to both public blockchains and leader‑based permissioned networks, claiming orders‑of‑magnitude improvements in performance and security. The company plans to use the financing to accelerate platform development and drive adoption in sectors where security and performance are critical. Financially, Swirlds announced a $3M seed round to fund those efforts. Public materials and technical papers are provided on the company website for further details about the algorithm and security model. Swirlds builds the trust layer for the internet with its hashgraph distributed-consensus platform for fully distributed "shared worlds" and decentralized applications. The company emerged from stealth and launched the hashgraph platform, making it available free for public download and developer use. Swirlds presents hashgraph as an alternative to blockchain that enforces fairness while offering low latency, low cost, high throughput and high security without proof-of-work; developers can build smart contracts and full applications in Java. Targeted use cases called out include distributed identity directories, online auctions, stock markets, cryptocurrencies, multiplayer games, ledgers, markets, and social collaboration applications. Swirlds announced a seed funding round led by Ping Identity, which also entered a technology collaboration to develop and demo a Distributed Session Management system and an identity-management proof of concept. Dr. Leemon Baird is founder and CEO, and the company planned demonstrations and technical sessions at the Cloud Identity Summit in New Orleans.

Total raised

$3M

Funding rounds

2

Latest round

Seed

Latest activity

Sep 2017