Acrew Ventures, Morningside Group, BlockFi and Warburg Serres Investments Join the existing investors of Coin Metrics.
United States, May 5, 2021 /AlexaBlockchain/ – Coin Metrics, the leading provider of crypto financial intelligence, has raised $15 million in Series B financing, led by Goldman Sachs.
Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency are also increasing their investment in the company after participating in previous fundraising rounds. They are joined by new investors Acrew Ventures, Morningside Group, BlockFi and Warburg Serres Investments. Mathew McDermott, Managing Director at Goldman Sachs, and head of their blockchain and crypto expansion efforts, will join Coin Metrics’ Board of Directors.
Coin Metrics provides network data, market data, indexes and network risk solutions to the most prestigious institutions touching cryptoassets. This financing will accelerate the company’s global expansion, enable further product innovation, and allow existing offerings to touch even more cryptoasset networks and markets.
The company institutionalized their network and market data offerings over the past 18 months, creating a resilient infrastructure to meet the needs of the most discerning organizations. Their index offering, which leverages elements of the market and network data offerings, has been adopted by some of the largest names in the cryptoasset ecosystem, including Fidelity Investments, Osprey Funds and BlockFi.
Coin Metrics recently announced several new products, including a network risk management offering, FARUM™, and a universal block explorer, ATLAS™, both of which leverage the infrastructure of the existing data business.
Tim Rice, co-founder and CEO of Coin Metrics, said:
“FARUM and ATLAS are perfect complements to our network and market data products. The tremendous interest we are seeing in these offerings reinforces the value of on-chain data to institutions engaging in cryptoassets. I couldn’t be more proud of what the team has built over the past 12 months. Our data is clearly on a path to becoming an integral part of the infrastructure for the future of finance.”
Mathew McDermott, Global Head of Digital Assets of Goldman Sachs, commented:
“Data is critical for the mainstream adoption of cryptoassets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools.
Marianna Lopert-Schaye, in Firmwide Strategy at Goldman Sachs, commented:
“Coin Metrics is at the forefront of innovation and institutionalization in the digital asset markets. We are excited to be leading their Series B, thereby enabling their growth and supporting their mission to be the leading provider of data-driven market insights and intelligence for institutions in crypto.”