Amberdata, a data and insights platform for blockchain networks, has closed its Series A on $15m as it looks to expand in the US.
The round was led by Citi, with commitments also coming from Franklin Templeton, Galaxy Digital, Rovida Kruptos Assets and executives at GoldenTree Asset Management. HWVP, which led Amberdata’s seed round, also joined the Series A.
With the equity burst, the company plans to double the size of its R&D team and bolster its go-to-market efforts in the US and internationally.
The company, which was founded in 2017, provides data and insights into blockchain networks, crypto markets and decentralised finance. Its technology analyses over eight million blockchain network transactions and more than $500bn in trading activities, each day.
With this information, financial institutions can improve their research, trading, risk, analytics, reporting and compliance processes. Clients can also integrate teal-time and historical data and metrics via FIX, REST, WebSockets and RPC.
Amberdata CEO Shawn Douglass said, “Partnering with the exceptional group of strategic investors gives us unprecedented insights into institutions’ roadmap and challenges.
“Blockchain technology enables entirely new financial products to be created and offered at a much lower cost with global market reach. We see growing institutional interest and demand in crypto assets. Our customer list and investors are a stamp of approval for the value we are creating for institutions.”
Copyright © 2018 RegTech Analyst
