Cryptocurrency knowledge supplier Coin Metrics has raised $6 million in a Collection A, with participation from Constancy Investments and Coinbase
Cryptocurrency knowledge supplier Coin Metrics has raised $6 million in a Collection A, with participation from Constancy Investments and Coinbase Ventures.
Led by Highland Capital Companions, Coin Metrics introduced Thursday the spherical had additionally obtained placements from Communitas Capital, Avon Ventures, Raptor Group, Digital Foreign money Group (DCG), Citadel Island Ventures and Collaborative Fund.
Primarily based in Boston, Coin Metrics stated the elevate will assist develop their providing and group. The corporate, which supplies analytics on open-source blockchain knowledge for institutional purchasers, stated that they had additionally earmarked funding for bettering knowledge units.
Established in 1988, Highland Capital Companions is an early-stage funding fund with a portfolio of 271 corporations, and has lengthy had a concentrate on tech, being a backer for the dot.com period search engine Ask Jeeves. It led the $27 million Collection A for Bitwise and took part in Coin Metrics’ $1.9 million seed spherical in 2019.
Sean Choose, principal at Highland Capital, stated it was crucial that the standard of knowledge in crypto enhance now that conventional traders are coming into the digital asset house.
“Monetary establishments require clear and clear knowledge to make choices. These identical necessities exist for Bitcoin and different cryptoassets which have emerged during the last decade,” he stated. “It’s turn into clear that Coin Metrics is the premier vacation spot for community and market knowledge.”
Coin Metrics CEO Tim Rice stated the very fact his firm already follows strict due diligence processes – to adjust to necessities set by their purchasers – meant they had been in the very best place to cater for an more and more institutional house.
The corporate was based in 2017 by Rice, Citadel Island’s Nic Carter and Aleksei Nokhrin.
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