Startups > Aleo

Aleo

Aleo enables private, scalable decentralized applications using zero-knowledge proofs.

Series B $228M total Founded 2019 Reno, Nevada

Aleo is a Layer 1 blockchain that uses zero-knowledge proofs to enable private, scalable decentralized applications. Unlike traditional blockchains where validators execute every transaction, Aleo offloads smart contract execution off-chain through a Prover Market, allowing users to hide transaction details while processing thousands of transactions per second. The platform combines general-purpose programmability with privacy by default, differentiating itself as one of the first blockchains to leverage zero-knowledge technology for both privacy and scalability.

Problem solved

Traditional blockchains expose transaction details publicly and require computationally intensive validation by all participants, limiting privacy and scalability for sensitive applications.

Target customer

Enterprise companies requiring confidential financial transactions, fintech platforms, crypto payment processors, and decentralized applications requiring transaction privacy and high throughput.

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Founders

Howard Wu

Co-Founder, CEO

UC Berkeley graduate (6 years, Master's in Electrical Engineering, Computer Science, Applied Mathematics); former Google software engineer; published ZEXE paper on decentralized private computation in 2018; co-founder of Blockchain at Berkeley and Dekrypt Capital.

Collin Chin

Co-Founder, CTO

UC Berkeley graduate in Electrical Engineering and Computer Science; former Google software engineer; managing partner at Dekrypt Capital.

Raymond Chu

Co-Founder

UC Berkeley graduate in Computer Science.

Michael Beller

Co-Founder

Served as COO and CFO from December 2019 to February 2023.

Funding history

Series A $28M April 9, 2021 Led by Andreessen Horowitz (a16z) · Placeholder VC, Galaxy Digital, Variant Capital, Coinbase Ventures

Series B $200M February 7, 2022 Led by Kora Management, SoftBank Vision Fund 2 · Tiger Global, Sea Capital, Slow Ventures, Samsung Next, Andreessen Horowitz (a16z)

Series B Follow-on $480K March 5, 2025 Led by Unknown · Unknown

Total raised: $228M

Industries

Cyber Security Blockchain Information Technology

Pricing

Not publicly available. Aleo operates on a token-based model where users pay transaction fees in ALEO tokens. Initial supply of 1.5 billion tokens upon launch, with automatic token generation thereafter to reward validators and stakeholders.

Notable customers

Request Finance, Toku, Paxos Labs

Integrations

Pondo Liquid Staking Protocol, Request Finance, Toku, Paxos Labs

Website

aleo.org/

Competitors

Zcash

Zcash is a privacy-focused cryptocurrency, while Aleo is a general-purpose Layer 1 blockchain enabling private dApps with zero-knowledge proofs.

Monero

Monero focuses on private transactions only, whereas Aleo enables programmable private smart contracts and decentralized applications.

Secret Network

Secret Network is a privacy blockchain, but Aleo differentiates with off-chain execution through a Prover Market for better scalability and lower user barriers.

Why this matters: Aleo is backed by top-tier investors (a16z, SoftBank Vision Fund 2) with $228M in funding and tackles the fundamental tension between blockchain transparency and privacy through innovative zero-knowledge proof architecture. The Prover Market approach uniquely lowers barriers to private dApp adoption by offloading computationally intensive work, making privacy-by-default accessible to mainstream enterprises.

Best for: Enterprises and fintech platforms requiring confidential transaction processing, private stablecoin payroll solutions, and high-throughput decentralized applications.

Use cases

Private Stablecoin Payroll

Companies can run compliant stablecoin payroll through existing HR systems while keeping financial information private. Aleo partners with Toku and Paxos to enable the first fully private stablecoin payroll solution, allowing enterprises to process employee payments without exposing transaction details on-chain.

Confidential Business Finance

Request Finance uses Aleo's privacy layer to process over $1 billion in payments while maintaining confidentiality of financial data. Companies can manage crypto and fiat payroll and vendor payments securely without revealing sensitive business information to competitors.

Private DApp Development

Developers can build decentralized applications where user inputs remain hidden and computation happens off-chain through the Prover Market. This enables use cases like private lending protocols, confidential voting systems, and secure identity verification without exposing sensitive data.

Alternatives

Zcash Choose Zcash for private cryptocurrency transactions, not for building general-purpose private applications.

Secret Network Choose Secret Network if you need a simpler privacy blockchain, but Aleo's Prover Market approach offers better scalability and lower user computational barriers.

Ethereum with privacy layers Choose Ethereum privacy solutions if you require maximum dApp ecosystem maturity, though Aleo offers privacy-by-default architecture rather than bolt-on privacy.

FAQ

What does Aleo do? +

Aleo is a Layer 1 blockchain that uses zero-knowledge proofs to enable private, scalable decentralized applications. It allows users to hide transaction details and computation inputs while processing thousands of transactions per second. Users can outsource proof generation to a Prover Market rather than doing computationally intensive work locally.

How much does Aleo cost? +

Aleo's pricing is not publicly disclosed. Users pay transaction fees in ALEO tokens on the network. The initial token supply is 1.5 billion, with automatic token generation thereafter to reward validators and network participants.

What are alternatives to Aleo? +

Key alternatives include Zcash (privacy-focused cryptocurrency), Secret Network (privacy blockchain with smart contracts), and Ethereum with privacy layers (established ecosystem with privacy add-ons). Choose based on whether you prioritize privacy-by-default architecture, ecosystem maturity, or specific use case requirements.

Who uses Aleo? +

Target customers include enterprises requiring confidential financial transactions, fintech platforms, and decentralized applications needing privacy and high throughput. Known users include Request Finance (business finance platform), Toku (stablecoin payroll), and Paxos Labs (stablecoin infrastructure).

How does Aleo compare to Zcash? +

Zcash is a privacy-focused cryptocurrency for transactions only, while Aleo is a general-purpose Layer 1 blockchain enabling programmable private smart contracts and decentralized applications. Aleo uses zero-knowledge proofs for both privacy and scalability, whereas Zcash focuses solely on transaction privacy.