Crypto finance intelligence provider Coin Metrics has raised $35m in Series C financing, boosting its new product innovation and supporting international expansion.
The round follows a $15m Series B last year and a $6m Series A round in April 2020, and was led by Acrew Capital and BNY Mellon. Former investors including Goldman Sachs, Fidelity Investments and Highland Capital Partners have taken part again and there are four new names also, Cboe Global Markets, JAM FINTOP Blockchain, Mubadala Investment Company and Brevan Howard Digital.
Founded in 2017 as an open-source project to determine the economic significance of public blockchains, Coin Metrics collects network data covering all the operational and economic activity that can be observed by running a full node. Based on this it offers an extensive range of services including network and market data, indexes and network risk solutions, all geared towards helping clients make informed crypto financial decisions and using data and insights to 'usher the world's premier financial institutions into crypto'.
Co-founder and CEO Tim Rice, whose previous experience includes senior executive roles at Tradeweb, Moneyline Telerate, Thomson Reuters and (IHS) Markit, comments: 'Coin Metrics serves as a critical nexus for institutions in the digital asset space and has the potential to scale much further. This financing will enable us to accelerate both our business and product roadmap, including through continued investment in new novel risk, DeFi and other Dapp metrics, and in our world-class infrastructure. The quality of our crypto data and intelligence has generated tremendous interest from the growing number of premier financial institutions engaging in cryptoassets, prompting us to expand our customer success and growth efforts globally. We have assembled an experienced team of top crypto, data and financial services experts, and I am proud of the industry-leading work they continue to produce'.
Web site: www.coinmetrics.io .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.