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 acquired placements from Communitas Capital, Avon Ventures, Raptor Group, Digital Forex Group (DCG), Fort Island Ventures and Collaborative Fund.
Based mostly in Boston, Coin Metrics mentioned the elevate will assist broaden their providing and staff. The corporate, which gives analytics on open-source blockchain knowledge for institutional purchasers, mentioned that they had additionally earmarked funding for enhancing 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 give attention to 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, mentioned it was crucial that the standard of knowledge in crypto enhance now that conventional buyers are coming into the digital asset area.
“Monetary establishments require clear and clear knowledge to make selections. These identical necessities exist for Bitcoin and different cryptoassets which have emerged over the past decade,” he mentioned. “It’s turn into clear that Coin Metrics is the premier vacation spot for community and market knowledge.”
Coin Metrics CEO Tim Rice mentioned the actual 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 area.
The corporate was based in 2017 by Rice, Fort Island’s Nic Carter and Aleksei Nokhrin.
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