Beam

Company Overview

Snapshot

Founded in March 2018 by Alex Romanov, Beam operates with 11–50 employees. The company has raised $5M across two funding rounds from three investors. In May 2021, Beam secured funding from Collider Ventures and Altonomy for an upcoming blockchain upgrade.

Business overview

Beam develops a confidential cryptocurrency and decentralized finance platform built on the Mimblewimble protocol. The company's core technology provides full transaction confidentiality and strong auditability for financial compliance. Beam serves the global virtual currencies market within the broader financial services industry, operating in the Fintech & Insurtech sector with a focus on money transfer and management.

Strategic signal

In May 2021, Beam raised $2M to support an upcoming blockchain upgrade. This investment from Collider Ventures and Altonomy signals continued development and strategic focus on enhancing its core technology, which is crucial for maintaining relevance and competitiveness in the rapidly evolving cryptocurrency and decentralized finance landscape.

Company Intelligence Q&A

What was a significant funding event for Beam?

In May 2021, Beam raised $2M for an upcoming blockchain upgrade, with investments from Collider Ventures and Altonomy.

Which investors participated in Beam's February 2019 funding round?

In February 2019, Beam received investment from Recruit Strategic Partners and Collider Ventures.

What is Beam's primary product?

Beam's primary product is the Beam Wallet, which supports its confidential cryptocurrency and decentralized finance platform.

What was a key strategic announcement by Beam in June 2020?

In June 2020, Beam announced plans for a hard fork aimed at increasing DeFi privacy.

What was the total capital raised by Beam?

Beam has raised a total of $5M across its funding rounds.