Messari, a leading crypto data, and analytics provider completed its series B financing round securing $35 million from existing and new investors in the process. The firm announced this during its annual agenda-setting summit dubbed Mainnet 2022.
The completion of the $35 million round brings the firm’s valuation to $300 million after it pocketed $21M in a previous round led by Steve Cohen in August last year. With the added funds, the data solutions provider will look to strengthen its core team to expand internationally.
The firm will also introduce new innovative solutions to the market via new product offerings to complete its market-leading product suite. Led by Brevan Howard, the series B round pulled investments from several industry giants including Samsung Next, FTX Ventures, Morgan Creek, and Morgan Creek Digital.
Existing investors including Kraken Ventures, Uncork Capital, Underscore VC, Point72, Coinbase Venture, and Galaxy also participated in the round.
Messari introduces new solutions for the market
Alongside the fundraising, the market leader for data solutions also announced the launch of two new products, Protocol Metrics, and Data Apps.
According to Florent Moulin, the firm’s Director of Product, these new products were designed with the customers in mind as there has been an increase in the demand for real-time protocol financing reports.
With Protocol Metrics, users can now analyze the growth and performance of a protocol and also compare crypto assets across different networks.
Data Apps, a marketplace for data applications currently in beta mode allows users to customize data sets.
Meanwhile, Messari recently acquired the assets and businesses of Dove Metrics, a crypto-fundraising provider to expand its products offering.
Crypto firms secure funding
While the prolonged crypto winter has undoubtedly affected investments in the cryptosphere, promising projects and start-ups have continued to secure funds from venture firms.
Recently, Satschel, a compliance firm that uses web3.0 technologies to assist financial services organizations to comply with local laws, secured $5.2 million in seed funds.
Also, Doodle, a colorful profile picture NFT maker raised $54 million in its first funding round bringing its valuation to $704 million.