Modveon, a Palo Alto-based startup building what it calls a verified operating system for governments and citizens, has raised $10 million to modernize how public-sector entities and individuals communicate, coordinate, and transact online. The financing was backed by Coinbase Ventures, Firebolt Ventures, Humla Ventures, Strategic Cyber Ventures, along with additional investors and angels.
Founded in 2025, Modveon is positioning its platform as identity-first infrastructure designed to enable verified, closed-loop digital interactions at scale, spanning government-to-citizen services as well as citizen-to-citizen activity. The company argues that while societies increasingly depend on digital systems for communication and financial services, the underlying trust and verification layers have not evolved quickly enough to support reliable real-world interactions in online environments.
The company is led by CEO and Co-Founder Nana Murugesan, who has held executive roles at Coinbase, Matter Labs, Snapchat, and Samsung. Modveon’s stated product direction includes verified digital identity as a base layer, secure closed-loop communication in both public and private settings, support for regulated digital payments and money movement, and automated services intended to reduce friction in everyday interactions.
Modveon said initial government deployments are already underway, with commercial agreements in place and revenue being realized. The company also said it expects to share additional product and partnership updates as it moves toward a broader launch later in 2026.
KEY QUOTE:
“The internet has scaled faster than trust. Societies increasingly operate online without shared verification, and the cracks are showing. Modveon is building the infrastructure that makes real-world digital interactions work reliably at scale.”
Nana Murugesan, CEO And Co-Founder, Modveon
