Nansen, a blockchain analytics platform, raises $75 million in a Series B Funding round at a valuation of $750 million.
What Nansen Does?
Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallets labels. It enables crypto investors to discover opportunities, perform due diligence and defend their portfolios with its real-time dashboards and alerts.
Nansen Series B Funding
The Nansen Series B funding round was led by Accel, with participation from GIC, Andreessen Horowitz (a16z), Tiger Global, SCB 10X, additional prominent VCs and angel investors.
Amplify Partners, L1 Digital, Cristóbal Conde (Chairman of Fimatix), Skyfall Ventures, Folius Ventures, Old Fashion Research, Adam White (President of Bakkt), Ryan Rabaglia (Libra Capital Ventures), Prabhakar Reddy (Co-Founder of FalconX), Anastasia Andrianova (CEO of Akropolis), and Ameet Patel also joined in this round.
In June, Nansen raised $12 million in a Series A funding round led by Andreessen Horowitz (a16z), and other investors including Coinbase Ventures, Skyfall Ventures, imToken Ventures, Mechanism Capital and QCP Capital.
Nansen has raised a total of $88.2 million in funding over 4 rounds.
Building the Best-in-Class Blockchain Analytics Platform
The company will use the latest funding to fuel Nansen’s next phase of growth and development, accelerate hiring and the development of new product offerings for retail and institutional customers, as well as expand Nansen’s global presence by adding innovative platform features and multichain integrations.
The company said that a lot has happened since it completed its Series A funding in June. It expanded its blockchain support from Ethereum and Polygon, to Binance Smart Chain (BSC), Fantom, Avalanche, Celo and Ronin. The company also increased coverage to 100M+ wallet labels across multiple blockchains. It has now become the market-leader for NFT analytics with in-depth coverage of over 18K collections.
The blockchain data analytics firm has added a new institutional product line, including Nansen API and Nansen Query.
Alex Svanevik, CEO, Nansen, said:
“We’re ready for a new phase of growth, accelerating our international expansion, scaling up our data capabilities to support the wider blockchain ecosystem, and providing global investors with a world-class product to explore the latest crypto trends and make more informed decisions.”
The company said in a statement that it was working on new offering.
“This is just the beginning, and we plan to introduce product lines for new audiences and scale even further. Institutional customers will be able to access market-leading on-chain data programmatically via Nansen API and Nansen Query. Protocol teams will be able to publish and access on-chain product analytics via the Nansen Ecosystem offering. Individual investors and crypto funds will see major improvements to Nansen Standard and Nansen Alpha, including support for 10+ blockchains.”
55 new team members from 28 countries joined the team since June 2021. Nansen is currently hiring.
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