Risc Zero

Risc Zero

Develops tools for zero knowledge proofs

About Risc Zero

Simplify's Rating
Why Risc Zero is rated
B-
Rated C on Competitive Edge
Rated B on Growth Potential
Rated B on Rating Differentiation

Industries

Cybersecurity

Crypto & Web3

Company Size

11-50

Company Stage

Series A

Total Funding

$54M

Headquarters

Seattle, Washington

Founded

2021

Overview

RISC Zero provides tools for Web3 developers to create zero knowledge proofs (ZK proofs) easily. Their main product, the zkVM, acts like a real RISC V microprocessor, allowing programmers to write ZK proofs in a familiar coding environment. Additionally, their Bonsai decentralized proving engine helps developers integrate ZK proofs into their applications and blockchains without hassle. RISC Zero stands out by offering specialized cryptographic tools that enhance the security and functionality of decentralized applications. The company's goal is to support developers in building secure and private applications in the growing Web3 space.

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Simplify's Take

What believers are saying

  • Growing demand for ZKPs boosts RISC Zero's zkVM and Bonsai engine.
  • $40 million Series A funding supports further development and expansion.
  • Open-source Zeth project aligns with blockchain's transparency and collaboration trends.

What critics are saying

  • Competition from StarkWare and Matter Labs may impact market share.
  • Rapid ZKP evolution requires constant updates, straining resources.
  • Ethereum's ZK transition delays could hinder broader adoption.

What makes Risc Zero unique

  • RISC Zero offers a unique zkVM, mimicking a RISC V microprocessor for ZK proofs.
  • Their Bonsai proving engine integrates ZK proofs into applications seamlessly.
  • Zeth, a Type 0 zkEVM, enhances Ethereum compatibility and scalability.

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Funding

Total Funding

$54M

Above

Industry Average

Funded Over

2 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$30M
Kalshi
$40M
Risc Zero

Growth & Insights and Company News

Headcount

6 month growth

-4%

1 year growth

-4%

2 year growth

0%
CryptoSlate
Dec 31st, 2023
How Zero-Knowledge (Zk) Tech Will Power The Future Of Crypto

The past year has witnessed the ascendancy of Zero-Knowledge (ZK) technology. From its potential to increase and secure privacy protocols in the Web3 space, to its increased efficiency in validating transactions, the implementation of the tech is further cementing the growth and integration of blockchain into our daily lives. Its role in increasing efficiency has been taking center stage, as zk-proofs allow for data batching in transactions, lowering the computational requirements to process the information and the amount of data stored on blockchain networks.This means introducing a trustless scalability mechanism which the industry has been sorely lacking. The additional component that has secured its place as the new widely accepted validation protocol is the inherent capability to process this data without the need for any unnecessary information being added in, reinforcing the privacy frameworks inherent to blockchain.To mark the commitment and the recognition of this potential, Ethereum and other Layer 1 platforms, the pillars of the industry, are in the process of transitioning towards settlement and proof verification through the implementation of ZK technology. As Layer 1s integrate this technology, we are about to see an industry-wide standardization. By securing the Web3 space with stronger validations, an issue in desperate need of resolution, this shift has the potential to secure the industry’s foundations and pave the way for the broad-scale adoption it has been lacking.Decentralization: a benefit and a hurdleZK technology has taken on the role of overcoming decentralization challenges, namely the creation of centralized verification hubs in current solutions, and the need for efficient systems to allow people easy access to additional chains.As the Web3 space develops, the focus is on the broader narrative of decentralized systems, keeping them so, and emphasizing the need for interoperability in an app-sharded future

PR Newswire
Aug 22nd, 2023
Risc Zero'S Open Source Zeth Proves Ethereum Blocks In Minutes, Instead Of Hours

Introducing Zeth —The First Type 0 zkEVMSEATTLE, Aug. 22, 2023 /PRNewswire/ -- RISC Zero , developers of leading general purpose zero-knowledge (ZK) virtual machine technology, today announced Zeth , a first-of-its-kind "Type 0" (fully Ethereum-compatible) zkEVM built on the RISC Zero zkVM and Bonsai proving service . Zeth is a new way of architecting L2's and scaling Ethereum, making this milestone release a significant step forward for ZK tech and the Ethereum ecosystem. Zeth paves the way for unprecedented ease in building powerful and efficient ZK infrastructure such as ZK rollups, ZK light clients, and ZK bridges.Type 0: A new category of zkEVMIntroducing Zeth —The First Type 0 zkEVM Tweet thisEthereum was not originally designed around ZK-friendliness, so there are many parts of the protocol that take a large amount of computation to ZK-prove. Type 1 aims to replicate Ethereum exactly, and so it has no way of mitigating these inefficiencies. At present, proofs for Ethereum blocks take many hours to produce

RisZero
Jul 20th, 2023
RISC Zero raises $40 million Series A Round

Brian Retford Jul 19, 2023

The Block
Jul 19th, 2023
RISC Zero secures $40 million Series A for zero-knowledge virtual machine

RISC Zero, a Seattle-based crypto startup, today announced the close of a $40 million Series A round.

Risc0
May 22nd, 2023
Using Continuations to Prove Any EVM Transaction | RISC Zero

Risc0 published v0.15 of the RISC Zero zkVM, which includes one of my favorite features: continuations.

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