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Aleo
Unicorn · $1.4BReno, US · Founded 2019 · 37 employees on LinkedIn · 23 known investors
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Provable builds developer tools and infrastructure for zero-knowledge applications on the Aleo blockchain, including the Leo programming language, snarkOS/snarkVM runtime, and SDK for developers to create privacy-focused blockchain applications.
Also known as Aleo Network · Aleo Network Foundation · Aleo Systems · Provable
Founders & leadership
Aleo was founded in 2019 by Howard Wu.
Investors · 23
How we know: the company's own site · Not right? Tell us
How we know: A.Capital Ventures's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: a16z crypto's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: a16z's portfolio · research · startuptalky.com · Not right? Tell us
How we know: Digital Currency Group's portfolio page · Not right? Tell us
How we know: Ethereal Ventures Management Ltd.'s portfolio page · Not right? Tell us
How we know: Haun Ventures's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Placeholder VC's portfolio page · Not right? Tell us
How we know: Samsung Next's portfolio page · aithority.com · Not right? Tell us
How we know: Slow Ventures's portfolio page · aithority.com · Not right? Tell us
How we know: SoftBank Vision Fund's portfolio page · funding news · research · startuptalky.com · Not right? Tell us
How we know: Variant Fund's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: Zero Knowledge Validator (ZKV)'s portfolio page · Not right? Tell us
How we know: deep research dossier: balaji-srinivasan · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
How we know: press coverage · Not right? Tell us
How we know: press coverage · Not right? Tell us
Also in the syndicate · 3
Funding
SEC filings, press & company announcements$221.2M disclosed across 2 of 6 rounds · 2021–2022
- Undisclosed amountSeries BFeb 2022
Kora Management LP (lead), SoftBank Vision Fund 2 (lead), Andreessen Horowitz (a16z), Samsung Next, Sea Capital, Slow Ventures, Tiger Global
Source ↗
▶$200MraisedFeb 2022 · 7 investors · Other TechnologyRule 506(b)
- MICHAEL BELLERExecutive Officer
- AARON WONGDirector
- HOWARD WUExecutive Officer, Director
- DANIEL JACOBSDirector
- ALEX PRUDENExecutive Officer
- Offering amount
- $200M
- Amount sold
- $200M
- First sale
- Feb 2022
- Incorporated
- Corporation, Delaware, 2019
- Federal exemptions
- 06b
▶$21.2MraisedApr 2021 · 10 investors · Other TechnologyRule 506(b)
- Howard WuExecutive Officer, Director
- Michael BellerExecutive Officer
- Offering amount
- $22.5M
- Amount sold
- $21.2M
- First sale
- Mar 2021
- Incorporated
- Corporation, Delaware, 2019
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Provable develops zero-knowledge technology and developer tooling for Aleo, a privacy-oriented layer-1 blockchain. Its product line includes Shield, a wallet-style product for moving stablecoins privately; Leo, a purpose-built programming language for writing zero-knowledge smart contracts; and an Aleo block explorer for browsing transactions, programs, validators, staking and DeFi activity on the network. Developer resources include a Leo playground, an SDK, ARC standards documents, the snarkOS node implementation, the snarkVM execution layer and developer documentation (sources [0][2]).
Aleo itself is described as an open-source, private-by-default and programmable layer-1 blockchain that uses zero-knowledge proofs and off-chain computation: users execute transactions locally, computations are compressed into zero-knowledge proofs, and nodes verify those proofs, so inputs and outputs remain private unless the user chooses to reveal them. The platform supports general programmability beyond asset transfers, such as identity applications (source [6]). Historical company-profile coverage describes Aleo as a private application-building platform whose products included developer docs, the Leo language, an Aleo Explorer for Testnet 3 and the Aleo Studio IDE (source [5]).
Provable maintains the Aleo Stack — snarkOS, Leo, snarkVM and the Aleo SDK — and ships coordinated releases with consensus upgrades scheduled across canary, testnet and mainnet networks. Recent releases added native Keccak/SHA-3 plus ECDSA signature-verification opcodes for on-chain interoperability with ecosystems such as Ethereum, raised the maximum array element limit from 32 to 512, sped up node syncing up to fivefold, stabilized transaction and solution broadcast, added a local `leo devnode` end-to-end testing client, JSON output for the Leo CLI, qualified external structs, and program-edition handling (sources [3][4]).
Compiled by commissioned research from 12 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Related companies · 10
Companies working in the same space as Aleo.
Timeline · 20
launches, deals, and filingsAleo announced support for fully private transactions on Ledger hardware wallets, combining cold storage key security with shielded balances and transaction history.
Release introducing consensus upgrade V13, a hard cap of 5,000,000,000 ALEO on total credit supply via ARC-0047, the leo devnode local E2E testing client, a --json-output flag in the Leo CLI, qualified external structs and program edition handling; mainnet hard fork scheduled at block 16,847,884 on March 14.
Provable announced early access to Shield Swap, described as a confidential trading venue built for compliance; shield_swap.aleo and shield_swap_router.aleo programs appear in live Explorer transactions.
Aleo released a whitepaper making the case for institutional adoption of permissionless, private stablecoin architecture.
With Mercy Corps Ventures, Humanity Link and the Danish Refugee Council, Aleo enabled aid delivery using private stablecoins in Colombia, with recipients registering via WhatsApp.
Aleo's privacy layer was integrated into Toku's global payroll compliance platform, allowing organizations to pay teams in USAD while keeping salary and treasury data confidential.
Aleo hosts USDCx, a private programmable dollar backed 1:1 by USDC and powered by Circle's xReserve, and USAD, an encrypted stablecoin issued by Paxos Labs backed 1:1 by USDG.
Release of snarkOS and Leo adding native Keccak+ECDSA signature verification opcodes, an increased maximum array size limit (32 to 512), up to 5x faster node syncing and more stable transaction/solution broadcast; mainnet consensus change ConsensusVersion V11 scheduled for ~November 4, 2025.
Alex Pruden announced his resignation as CEO and became executive director of the newly established Aleo Foundation.
Pruden announced his resignation as CEO and became executive director of the newly established Aleo Foundation.
Alex Pruden, previously chief strategy officer (from November 2020) and COO (from April 2021), became CEO of Aleo in September 2022.
Aleo announced the launch of Testnet 3, with an accompanying block explorer.
Aleo launched its incentivized testnet, testnet2, on December 6, 2021, followed by an announced Testnet 3 in 2022.
After months of research, Aleo launched its incentivized testnet, testnet2.
Alex Pruden, previously at Andreessen Horowitz, became chief strategy officer of Aleo.
Aleo was architected in 2019 by co-founders including Howard Wu, Collin Chin and Raymond Chu (one source also names Michael Beller) to bring privacy to the programmable web using zero-knowledge cryptography.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structureFrequently asked questions
- What does Aleo do?
- Provable builds zero-knowledge developer tooling and privacy products for the Aleo layer-1 blockchain.
- Who founded Aleo?
- Aleo was founded by Howard Wu in 2019.
- Who are Aleo's investors?
- Aleo's investors include Coinbase Ventures, A.Capital Ventures, a16z crypto, Ambush Capital, Andreessen Horowitz, Digital Currency Group, Ethereal Ventures Management Ltd., Haun Ventures and 12 more.
- How much funding has Aleo raised?
- Aleo has disclosed $221.2M raised across 2 of its 6 known rounds.
- Where is Aleo headquartered?
- Aleo is headquartered in Reno, US.