Merit Systems, based in Brooklyn, New York, has successfully closed a $10 million seed funding round led by Andreessen Horowitz's crypto fund and Blockchain Capital. The company aims to address the 'attribution problem' in open source development by creating a protocol for fair attribution and reward mechanisms, enabling direct payments to software creators. Co-founded by Sam Ragsdale, Ryan Sproule, and Mason Hall, Merit Systems is valued at $55.5 million and plans to launch a broader product version by the end of February. The company is expanding its team, intending to hire seven more employees to foster a collaborative on-site work culture at their Domino Sugar Factory office.

PANews reported on January 17 that Merit Systems, headquartered in Brooklyn, New York, announced the completion of a $10 million seed round of financing, led by Andreessen Horowitz's crypto fund and Blockchain Capital. Merit is committed to solving the long-standing "attribution problem" by establishing a protocol that provides fair attribution and reward mechanisms for open source developers, allowing users to pay software creators directly.
 Merit was co-founded by Sam Ragsdale, Ryan Sproule and Mason Hall, and is currently valued at $55.5 million. It is expected to launch a wider product version at the end of February. The company is located in the Domino Sugar Factory office building in Brooklyn and plans to add seven employees in the next few months to create a team culture based on on-site collaboration.

Merit Systems Secures $10M Funding to Enhance Open Source Developer Incentives