New Funds for Blockchain Data Specialist Coin Metrics

Cryptoasset data analyst Coin Metrics has raised $6m in a Series A round of funding, which it will use to grow the team, expand its product offering and provide enhanced coverage of digital assets.

Founded in 2017 as an open source blockchain network data and analytics project, Coin Metrics has since become an industry resource for understanding and publishing hard-to-acquire data about major public blockchains; delivering this data across multiple formats to various industry stakeholders, including financial enterprises, funds, media and research outlets, and data/application providers. Last year, the company hired former Markit (now IHS Markit) exec Tim Rice as CEO.

Coin Metrics' new funding has been led by Highland Capital Partners with participation from FMR, LLC, Castle Island Ventures, Communitas Capital, Collaborative Fund, Avon Ventures, Raptor Group, Coinbase Ventures, and Digital Currency Group; adding to last year's $1.9m seed round. Rice comments: 'Our ability to distill operational and economic activity occurring on a blockchain network, by running full nodes and performing deep analytics, is imperative for broader institutional investment in this space. Recent cryptoasset volatility and the insights we have been able to provide customers highlights the importance of the work we are doing'.

Web site: www.coinmetrics.io .