Cryptocurrency startup Chaos Labs has raised $55 million in Series A funding, led by Haun Ventures.

ChainCatcher news, according to Coindesk, New York-based crypto startup Chaos Labs, which focuses on on-chain risk management tools, recently raised $55 million in a Series A funding round led by Haun Ventures. This funding round also attracted participation from investors such as F-Prime Capital, Slow Ventures, Spartan Capital, as well as Lightspeed Venture Partners, Galaxy Ventures, and PayPal Ventures.

The company plans to use the funds to expand its platform to meet the growing demand for automated risk management in decentralized finance (DeFi). The number of clients for Chaos Labs has tripled in the past year, helping over 20 protocols, including Aave, GMX, and Jupiter, achieve product security monitoring and growth. Founder and CEO Omer Goldberg stated that Chaos Labs aims to automate certain risk management tasks through tools like dashboards, real-time data oracles, and risk alerts, making DeFi platforms more agile in responding to market fluctuations and reducing human error.