COMPANY PROFILE

NuCypher

NuCypher is a security and encryption platform for distributed systems, including blockchain, big data, cloud, and internet of things

San Francisco, United StatesFounded 2015Security

Valuation $50–100M Last recorded · 2019

Headcount <100 Current team size

Total funding $10–50M Disclosed equity funding

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About NuCypher

NuCypher is a company specialized in cryptography that builds privacy-preserving infrastructure and protocols. It was founded in 2015 by MacLane Wilkison and Michael Egorov.

Wilkison, the Co-founder and CEO of NuCypher, has a background in technology and entrepreneurship. He was a software engineer at Morgan Stanley, where he worked on developing and implementing financial software. Egorov, the other Co-founder and CTO of NuCypher, is a physicist and data scientist with a Ph.D. in physics from the University of Michigan. He has a background in machine learning and data analysis, and he has worked as a data scientist at various companies, including LinkedIn.

The company has developed a decentralized threshold cryptography network that offers interfaces and runtimes for secrets management and dynamic access control. This allows developers to store, share, and manage private data on public blockchains. NuCypher's technology is designed to be used by a wide range of applications, including decentralized finance (DeFi), healthcare, and supply chain management.

NuCypher's business model is based on its native utility token, NU, which is used to pay for services on the network and to incentivize node operators to provide cryptographic services. The company has raised funding from a number of venture capital firms, including Polychain Capital, Fenbushi Capital, and Y Combinator.

In 2022, NuCypher merged with the Keep Network to form the Threshold Network, which is a decentralized network that provides a suite of cryptographic services, including a decentralized and permissionless bridge between the Bitcoin and Ethereum blockchains.

MoreLess Source: Dealroom company data

At a glance

Status: Operational
Founded: 2015
Headquarters: San Francisco, United States
Employees: 5
Open positions: None listed
Dealroom signal: 60.5/100
Industry: Security
Sub-industry: Public safety
Sector: Security, Privacy Protection, Spinout, Cybersecurity, Ethereum Ecosystem, Crypto and Web3, Privacy-Enhancing Technologies, YC S16
Technology: Blockchain, Big Data, IoT InternetOfThings
Client focus: b2b
Investment activity: 1 company, latest Dec 2021
Capital deployed: $180K
Preferred round: SEED
Links: Website LinkedIn X

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Funding history

7 recorded events

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
EARLY VCOther financing	Oct 2019	$11M	$43M	Arrington Capital · Hashed · Compound · Polychain Capital	—
EARLY VCOther financing	Apr 2018	$11M	$43M	Notation Capital · Fenbushi Capital · Bitmain · Compound	—

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Growth signals

NuCypher website traffic

Latest recorded traffic for NuCypher is 3.5K monthly website visits, up 629.2% over the last three months. NuCypher's team declined 37.5% over the past year.

Latest monthly visits3.5K 3-month web change+629.2% 1-year team growth-37.5%

Monthly website visitsDec 2018–Jun 2024

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