The crypto analytics and market intelligence company Messari revealed on Thursday the firm has raised $21 million in a Series A financing round. The funds will be used to expand Messari’s product suites and it aims to “triple the size of its engineering and research teams.”
Crypto Market Intelligence Firm Messari Secures $21 Million
Digital currency analytics and intelligence data have seen massive demand this year. A number of crypto analytics providers have been able to raise millions from investors as institutions and the general public has been hungry for crypto coin statistics. On Thursday, the firm Messari announced that the company has raised $21 million from strategic investors. The Series A financing saw participation from Point72 Ventures, Coinbase Ventures, Uncork Capital, and Underscore VC.
Alongside these investors, Messari disclosed that former Thomson Reuters CEO Tom Glocer, Kraken Ventures, Alameda Capital, Blockchain Ventures, and CMS Holdings joined the funding round. Messari started three years ago and was co-founded by former Digital Currency Group executive Ryan Selkis. The Messari co-founder said in a statement that the company was pleased to get financing from “an exceptional syndicate of new and existing investors.”
“Thousands of investors, crypto enterprises, and token projects already rely on our products and services to conduct industry diligence and participate in the emerging crypto economy,” Selkis remarked during the funding announcement. “This new funding reinforces the value we have created for our early crypto-native customers and highlights the opportunity we have to solve some of crypto’s most challenging information and compliance problems for new institutional entrants as well.”
Messari’s Series a Follows Investments in Analytics Firms Like Skew, Coin Metrics
This year a few analytics firms have seen significant demand and at the end of April Skew analytics was acquired by Coinbase. The following week, the Boston-based Coin Metrics revealed the company raised $15 million in a Series B financing round that was led by the American multinational investment bank and financial services company, Goldman Sachs.
As far as the Messari funding is concerned, the Messari investment is Point72 Ventures’ first investment in the crypto space, according to the announcement. Furthermore, Adam Carson, a partner at Point72 has joined Messari’s board of directors.