F
Flare Network
Fintech · London, United Kingdom · Founded 2019
Layer 1 blockchain providing decentralized data access MoreLess
Flare Network is a Layer 1, Proof-of-Stake (PoS) blockchain founded in 2019 by Hugo Philion, Sean Rowan, and Dr. Nairi Usher. The company is developing a blockchain for data-intensive applications, providing developers with secure, decentralized access to high-integrity data from other chains and the internet. This is designed to solve the oracle problem, which is the challenge of bringing external data onto a blockchain trustlessly. The platform is compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy Ethereum-based smart contracts on Flare.
The three co-founders met while studying at University College London (UCL). CEO Hugo Philion has a background in finance, having worked as a derivatives trader before studying machine learning at UCL. Chief Product Officer Sean Rowan and Chief Scientist Dr. Nairi Usher also met Philion at UCL. Dr. Usher holds a PhD in Quantum Computing and worked as a postdoctoral researcher in Quantum Machine Learning at UCL before co-founding Flare.
Flare's core technology consists of two main protocols: the Flare Time Series Oracle (FTSO) and the State Connector. The FTSO provides highly decentralized price and data feeds to dApps on the Flare network without relying on centralized providers. The State Connector enables information from other blockchains and internet sources to be securely used with smart contracts on Flare, facilitating interoperability. This allows for use cases such as bringing smart contract capabilities to non-programmable tokens like BTC, XRP, and DOGE through a system called F-Assets.
The company's business model centers on its native token, FLR, which is used for transaction fees, staking, and as collateral within decentralized applications. Value is generated through network activity and the adoption of its protocols by developers building dApps. Flare has raised a total of $46.3 million over three funding rounds, with its latest being a Series A round of $35 million in February 2024. Investors include Kenetic, Digital Currency Group, CoinFund, and Xpring.
Keywords: Layer 1 blockchain, data oracle, interoperability, EVM compatible, decentralized data, smart contracts, State Connector, FTSO, F-Assets, cross-chain composability, Hugo Philion, Sean Rowan, Nairi Usher, Web3 data, decentralized finance, blockchain for data, data acquisition protocols, proof-of-stake, financial software
Company overview
Flare Network company information
The essential company record, classifications and operating signals in one place.
- Status
- Operational
- Founded
- 2019
- Headquarters
- London, United Kingdom
- Employees
- 76
- Open positions
- None listed
- Dealroom signal
- 78.6
- Investment activity
- 1 companies · latest May 2025
- Capital deployed
- $25M
- Preferred round
- SERIES A
Valuation & funding
Flare Network funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VC✓Equity / VC | Feb 2024 | $35M | $140M | Aves Lair · Kenetic Capital | ↗ |
| EARLY VC✓Equity / VC | Jun 2021 | $11M | $45M | Charlie Lee · LD Capital · Do Kwan · Kenetic Capital | — |
| EARLY VC✓Equity / VC | Nov 2019 | $0 | — | Undisclosed | — |
Financials
Revenue and workforce over time
Available revenue and workforce history. Fields without reported data are omitted.
| Year | Revenue | Growth | Employees |
|---|---|---|---|
| 2026 | $6.4M | 0% | 72 |
| 2025 | $6.4M | 0% | 76 |
| 2024 | $6.4M | 0% | 69 |
| 2023 | $6.4M | +59.5% | 58 |
| 2022 | $4M | — | 41 |
Growth signals
Flare Network website traffic
Latest recorded traffic for Flare Network is 220 monthly website visits, up 46.7% over the last three months. Flare Network's team grew 0% over the past year.
Comparisons
Flare Network compared with similar companies
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Capital deployed
Flare Network investments and acquisitions
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Talent graph
Flare Network's talent
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Global footprint
Where Flare Network has talent and traffic
team presence
In the news
Latest news about Flare Network
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Market sentiment
What the market is saying about Flare Network
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Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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