The TIE, a platform that connects institutions with crypto statistics and news, has acquired $9 million in a ‘Series A’ funding round. The TIE intends to expand in three areas with the funding: institutional services, token relationships, and data redistribution.
USD 9 million fundraising by The TIE
In a ‘Series A’ fundraising round, ‘The Tie’, a cryptocurrency information services company, raised $9 million. Blizzard led the investment round, which included executives from Golden Tree Asset Management, Hudson River Trading, NYDIG, Gemini Frontier Fund, Republic Capital, and Nexo. According to The TIE, the investment gives the company a post-money valuation of $100 million.
As investors work hard to make use of the flow of crypto-related information, the information and data services market has received considerable capital in recent months. Lukka raised $110 million in January, and Dune Analytics raised $69.42 million just a few weeks ago. As a consequence, both companies received unicorn values.
The SigDev Terminal, which delivers market, corporate, and news data on a single platform, is the TIE’s main product. The additional money will be used to develop the company’s three verticals: institutional services, token relationships, and data redistribution.
Technology solutions by The Tie
According to Joshua Frank, co-founder and CEO of The Tie, there is so much information available that it is not possible to do everything oneself. Therefore, The Tie has designed an extremely modular solution for institutional investors. They use many data sources like news in real-time, revisions from 2000 regulatory agencies and court cases, token updates etc. All of that data can be tagged and categorised using their technology solution. Their product can tell someone about the information as well as its importance in real-time.
The firm’s news data is currently the most popular function on the terminal. Through its Labs offering, the TIE also provides incubation for crypto initiatives, including Avalanche, by assisting with public relations and marketing strategy utilising data sets and pattern matching analytics.