F
Flare Network
Layer 1 blockchain providing decentralized data access
About Flare Network
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.
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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.
At a glance
- Status
- Operational
- Founded
- 2019
- Headquarters
- London, United Kingdom
- Employees
- 76
- Open positions
- None listed
- Dealroom signal
- 78.6/100
- Industry
- Fintech
- Sub-industry
- Crypto and DeFi
- Sector
- Fintech, Interoperability, Layer1, Crypto and Web 3.0 Infrastructure, Crypto and Web3, Hard Tech, DT and LS, uk is8 financial services
- Technology
- Blockchain, Deep Tech
- Business model
- SaaS
- Client focus
- b2b, b2c
- Investment activity
- 1 company, latest May 2025
- Capital deployed
- $25M
- Preferred round
- SERIES A
Knowledge graph
More headlines
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 | — |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
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.
Similar companies
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series A14 investors entered at this stage
Kenetic Capital
Charlie Lee
LD Capital- DKDo Kwan
Digital Currency Group
CoinFund
Genesis Capital
Backend Capital
Wave Digital Assets
Borderless Capital
New Form Capital
ZB exchange- CFCFund
Aves Lair
Other known investors4 additional known investors
Jesus Rodriguez.
MetaStone Group
VentureSouq
Vinny Lingham
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Flare Network on X, ranked by likes and reposts, corporate channels excluded.
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Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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