While Algorand did not conduct a private token sale, Algorand, Inc. (parent company) did conduct equity raises of $4,000,000 in February 2018 and $62,000,000 in October 2018 to fund protocol development. Equity investors own a portion of the Algorand, Inc. company.

While Algorand did not conduct a private token sale, Algorand, Inc. (parent company) did conduct equity raises of $4,000,000 in February 2018 and $62,000,000 in October 2018 to fund protocol development. Equity investors own a portion of the Algorand, Inc. company.

Please note that this is an ongoing sale. Algo tokens are distributed by the Algorand Foundation via a series of dutch auction. The first auction was conducted on June 19th, 2019 with 25,000,000 tokens sold at a clearing price of $2.40 for a total capital raise of $60,000,000. Algorand will continue to conduct periodic, public auctions with a total auction supply of up to 600,000,000 ALGO per year over the next five years.

Algorand, a blockchain protocol co-authored by MIT professor and Turing Award winner Silvio Micali, announced a Seed funding round on February 15, 2018, raising $4 million. The investment came from VC firms Pillar and Union Square Ventures. Focused on building a digital currency and transaction platform that addresses governance issues in distributed systems, the funds will be used to expand Algorand's development team and continue work on the protocol. The company's goal is to foster a diverse community of contributors, encompassing end users, developers, and researchers across various fields.

Algorand, a Boston-based blockchain and cryptocurrency company purpose-built for business, secured $62 million in equity funding on October 24, 2018. Backed by a diverse group of investors from the venture capital, cryptocurrency, and financial services communities, this funding enabled Algorand to focus on decentralization, scalability, and security for businesses operating in the decentralized economy. Founded by cryptography pioneer Silvio Micali, the company leverages a permissionless, pure proof-of-stake protocol and will use the funds to launch its blockchain protocol.