Cryptocurrency data company Coin Metrics has raised $15 million in a Series B funding round led by major Wall Street bank Goldman Sachs, The Block reported on May 6.
In addition to Goldman Sachs, the round was backed by Crew Ventures, BlockFi, Morningside Group and Warburg Serres Investments. coin Metrics said in a press statement that existing investors Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital and Collab+Currency also increased their stakes in the company.
In a statement, Mathew McDermott, head of global digital assets at Goldman Sachs, said
Data is critical to the mainstream adoption of cryptocurrency assets by traditional investors and financial services participants. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools.
As part of the financing agreement, McDermott also joined Coin Metrics’ board of directors.
The Block’s John Dantoni wrote in a research article last month that the cryptocurrency data analytics space attracted $116 million in 13 funding deals in the first quarter of 2021. The largest of those rounds was that of Chainalysis, which raised $100 million in a Series D round.
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