Coin Metrics launched a fresh round of funding on Monday, raising $35 million. According to a press release, BNY Mellon and Acrew Capital led the investment. Goldman Sachs, which led Coin Metrics’ $15 million round last spring, and Fidelity were among the other investors in the round.
The Series C round included new and current investors such as Brevan Howard Digital, Cboe Global Market, Avon Ventures, JAM FINTOP Blockchain, Morningside Technology Ventures, Mubadala Investment Company, and Highland Capital Partners.
Following the completion of the company’s $15 million Series B in 2021, Coin Metrics acquired SOC 2 Type 1 accreditation from Deloitte. Coin Metrics has distinguished itself from other crypto data providers in the institutional space by providing a comprehensive suite of services – including on-chain data, a universal block explorer, market data and metrics, indexes, and network risk management – while adhering to core values of openness, pioneering, elucidation, and neutrality.
Castle Island Ventures, Coinbase, Digital Currency Group, Communitas Capital, Dragonfly Capital, The Raptor Group, BlockFi, Animal Ventures, and Collab+Currency were among the other investors in past rounds.
Co-founder and CEO Tim Rice explained the following about this funding:
“This funding will allow us to continue investing in new unique risk, DeFi, and other Dapp metrics, as well as in our world-class infrastructure, to speed both our business and product roadmaps.”
With more capital, the company will be able to continue to improve infrastructure and dependability while scaling the business for wider worldwide adoption. The company’s exceptional team of cryptonative experts and financial sector veterans will position Coin Metrics to solidify its position as the most trusted global source of end-to-end crypto information for institutions.
Let us see whether the company uses this funding wisely or not.
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