When was Phala Network founded?

Phala Network was founded in 2018 and raised its 1st funding round 2 years after it was founded.

Where is Phala Network located?

Phala Network is headquartered in Beijing, China.

Who is the current CEO of Phala Network?

Marvin Tong of Phala Network. They have also founded 1 company.

How many employees does Phala Network have?

As of Jul 31, 2026, the latest employee count at Phala Network is 24.

Is Phala Network a funded company?

Phala Network is a funded company, having raised a total of $10M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Sep 01, 2020.

When was the latest funding round of Phala Network?

Phala Network's latest funding was a $***** Seed round on Jan 12, 2024, with participation from 1 investor. Its primary sector is Blockchain Infrastructure. In China, the Blockchain Infrastructure sector has seen $83.6M in funding in 2026 to date.

Where does Phala Network rank among its competitors?

Phala Network ranks 17th amongst 248 active competitors, of which 40 are funded. It stands 5th in terms of total funding among its competitors. The most recent competitor to raise funding was Ligero, which secured $4M in Feb, 2025.

Who are the top competitors of Phala Network?

Phala Network's top competitors include OpenZeppelin, Mezo and Moonbeam. Among them, Ligero secured the most recent funding round in February, 2025.

Phala Network - 2026 Company Profile, Team, Funding & Competitors

Company Details

Phala is a blockchain-based cloud computing network for running decentralized applications. It is a privacy protocol layer built for data protection and smart contracts. Features Polkadot - a multi-chain application to enable cross-chain registries & computation, Web3 Foundation for software development & research, and Parity for building Web 3.0.

Website: phala.network
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Key Metrics

Founded Year

2018

Location

Beijing, China

Stage

Seed

Total Funding

$10M in 2 rounds

Latest Funding Round

Seed, Jan 12, 2024, $*****

Investors

DWF Labs & 14 more

Ranked

17^th among 248 active competitors

Employee Count

24 as on Jul 31, 2026

Similar Companies

Tamr & 5198 more

View Phala Network's full profile

Phala Network has raised a total funding of $10M over 2 rounds. Its first funding round was on Sep 01, 2020. Its latest funding round was a Seed round on Jan 12, 2024 for $*****. 1 investor participated in its latest round. Phala Network has 15 institutional investors.

Here is the list of recent funding rounds of Phala Network:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jan 12, 2024	7799261	Seed	7019392	3982593	3535142	3436557
Sep 01, 2020	2943495	Seed	4760507	6282581	2818045	Candaq Fintech Group & 9 more

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View details of Phala Network's funding rounds and investors

The founders of Phala Network are Marvin Tong, Hang Yin and Zhe Wang. Marvin Tong is the CEO of Phala Network.

Here are the details of Phala Network's key team members:

Marvin Tong: Co-Founder & CEO of Phala Network.
Contact Info: 1 email address
Hang Yin: Co-Founder of Phala Network.
Contact Info: 1 email address
Zhe Wang: Co-Founder of Phala Network.
Contact Info: 1 email address

View details of Phala Network's Founder profiles and Board Members

Phala Network's employee count trend

Phala Network has 24 employees as of Jul 26. Here is Phala Network's employee count trend over the years:

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Top competitors of Phala Network include OpenZeppelin, Mezo and Moonbeam. Here is the list of Top 10 competitors of Phala Network, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	OpenZeppelin 2015, San Francisco (United States), Acquired	Developer of open-source tools and security audits for blockchain applications	-	Northzone, Collab Fund & 14 others	61/100
2nd	Mezo 2022, Menlo Park (United States), Series A	Developer of stablecoins fully backed by reserves of digital currency	$30M	Pantera Capital, Ledger & 16 others	59/100
3rd	Moonbeam 2019, Singapore (Singapore), Seed	Smart contract platform for the development of interoperable applications	-	CoinFund, SkyChain Capital & 10 others	59/100
4th	Aurora Labs 2021, Gibraltar (Gibraltar), Seed	Decentralized network for creating blockchain-enabled products	$12M	Electric Capital, Pantera Capital & 14 others	59/100
5th	Fantom 2018, Seoul (South Korea), Series B	Smart contract platform for digital assets and dApps	$50M	8 Decimal Capital, Signum Capital & 47 others	55/100
6th	Symbiont 2013, New York City (United States), Series B	Provider of virtual slot machine games and online casino services	$31M	Nasdaq, Atlantic Merchant Capital Investors ... & 22 others	53/100
7th	Bling Financial 2017, Costa Mesa (United States), Seed	Mobile game developer specializing in blockchain based casual games	$1.25M	Wave Financial, Coinbase & 12 others	50/100
8th	Ligero 2018, Pittsford (United States), Seed	Decentralized platform for enabling transactions & crypto exchanges	$5.15M	Galaxy, Consensys Labs & 7 others	50/100
9th	ParaState 2020, Singapore (Singapore), Series A	Decentralized platform for contract development	$6.3M	CMS Holdings, Alameda Research & 18 others	50/100
10th	Hiro 2013, New York City (United States), Funding Raised	Decentralized platform for building apps, smart contracts, and digital assets	-	Rising Tide Fund, SBX Capital & 2 others	47/100
17th	Phala Network 2018, Beijing (China), Seed	Blockchain smart contract provider	$10M	SNZ, Optimista Capital & 13 others	41/100