Startup profile · funding coverage
Keep Network funding, valuation and investors
Decentralized tBTC bridge — merged with NuCypher to form Threshold Network.
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Funding, valuation & investors
Answer-first snapshotLatest funding
tBTC round
$7.7M · April 2020
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$7.7M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
private
growth · San Francisco, California
Investors in latest funding
Other: Collaborative Fund
Overview
Keep Network built decentralized infrastructure for bringing Bitcoin onto Ethereum via tBTC, a trust-minimized BTC-backed token using threshold cryptography. In 2022, Keep merged with NuCypher to form Threshold Network (T token), which continues tBTC and threshold cryptography services for the crypto ecosystem.
Why Keep Network is interesting
Keep pioneered trust-minimized Bitcoin on Ethereum via tBTC before merging with NuCypher into Threshold Network — a16z, Multicoin, and Collaborative Fund backed the BTC bridge thesis early.
Product & use cases
tBTC allows Bitcoin holders to use BTC as collateral in Ethereum DeFi without centralized custodians. Threshold signers operate the bridge using distributed key generation and threshold signatures.
- Bitcoin liquidity in Ethereum DeFi protocols
- Decentralized BTC-backed lending and trading
- Threshold cryptography for privacy and signing applications
Key facts
- Merged with NuCypher (2022) to form Threshold Network
- tBTC round (Apr 2020): $7.7M — CoinDesk
- Prior round (2018): a16z, Polychain, Draper participated
Funding history (newest first)
tBTC round
2020-04 $7.7MSource: https://www.coindesk.com/business/2020/04/27/paradigm-leads-7-7m-investment-in-keep-networks-tbtc/
Seed/Series
2018-12 UndisclosedSource: https://www.coindesk.com/markets/2018/12/12/keep-network-raises-12-million/
Investors in our directory
Funds linked from Keep Network's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Early decentralized BTC bridge design influencing later solutions; merged entity combines Keep and NuCypher developer communities.
BTC-on-ETH remains custodial-dominated (wBTC). Threshold's tBTC offers decentralization but competes against convenience of centralized wrappers. Merge with NuCypher consolidated token but added complexity.
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wBTC (BitGo custodial) incumbent
Centralized custodial BTC on Ethereum — dominant by volume.
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RenBridge (discontinued) adjacent
Former decentralized bridge; operations wound down.
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Coinbase cbBTC incumbent
Centralized exchange-issued BTC token.
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Babylon / Lombard adjacent
Newer BTC staking and bridge protocols.
Notable stories
- Keep Network merged with NuCypher in 2022 to form Threshold Network — combining BTC bridge infrastructure with privacy cryptography under one T token.
- Paradigm led the 2020 tBTC-specific $7.7M round, validating decentralized Bitcoin-on-Ethereum demand pre-DeFi summer.
Industries
Related funding articles
Venture Capital Tracker pieces that cover Keep Network's financing or category context.
FAQs about Keep Network
Practical answers founders, operators, and investors typically search for.
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