Blockchain Analytics Firm Nansen Raises $75M Series B Led by Accel, To Help Investors And Businesses Gain Competitive Insights Into Emerging Crypto Trends
• Nansen’s platform combines on-chain data with a proprietary database of activity across 100M+ blockchain wallets to provide real-time, actionable insights for investors and financial institutions on the expanding blockchain ecosystem• Investment will be used to accelerate hiring and the development of new innovative product offerings for retail and institutional customers, as well as to expand Nansen’s global presence
Singapore, (GLOBE NEWSWIRE) — Nansen, the industry-leading blockchain data analytics platform, today announces it has raised a $75 million Series B round led by Accel. GIC, Andreessen Horowitz (a16z), Tiger Global, SCB 10X, and additional prominent VCs and angel investors have also participated in the round. This funding will be used to fuel Nansen’s next phase of growth and development, including hiring top-notch developers and research analysts, and expanding the platform’s features and multichain integrations at a global scale.
Nansen analyzes billions of on-chain data points, millions of wallet labels and thousands of entities on leading blockchains such as Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche, Celo, and more. Using the company’s quality market intelligence and actionable analytics, investors and financial institutions can make more informed decisions when it comes to project discovery, due diligence, and trading. It enables easier exploration of complex on-chain data on investors’ money flows, exchange activity, and analyzing emerging trends in DeFi, NFTs and DAOs through user-friendly, streamlined visual dashboards.
Founded in 2020, Nansen has experienced rapid growth and user adoption with retail investors, as well as institutional investors such as Three Arrows Capital, DeFiance Capital, Genesis Block Ventures, Not3Lau Capital, Polychain, YBS Capital and Acheron Trading. In addition, Nansen’s platform is used by leading crypto teams such as Axie Infinity, Polygon, and Lido, and has achieved more than a 20x increase in subscribers over the last year.
Now the company has scored additional funding helping them drive the next phase of global growth, alongside major investors including: Amplify Partners, L1 Digital, Cristóbal Conde (Chairman of Fimatix), Skyfall Ventures, Folius Ventures, Old Fashion Research, Adam White (President of Bakkt), Ryan Rabaglia (Libra Capital Ventures), Prabhakar Reddy (Co-Founder of FalconX), Anastasia Andrianova (CEO of Akropolis), and Ameet Patel.
This Series B funding round led by Accel comes just six months after Nansen raised its Series A. In that time, it has grown its user base by over 400% and expanded the team by hiring more than 55 new team members across 28 countries. These hires include research analysts and developers to increase the company’s exposure to all popular blockchains, and better serve the needs of crypto investors and businesses that are increasingly multi-chain in nature. The strong demand shows leading players in the industry understand the importance of real-time relevant data on the expanding blockchain ecosystem which Nansen is supporting.
The funds raised in this round will help Nansen scale even further and introduce product lines for new audiences. Institutional customers will be able to access market-leading on-chain data programmatically via Nansen Query and a new Nansen API. Protocol teams will be able to publish and access on-chain product analytics via the Nansen Ecosystem offering. Individual investors and crypto funds will see major improvements to Nansen Standard and Nansen Alpha, including support for 10+ blockchains.
“2021 has been an inspirational year for us. We’re grateful for how much our customers love Nansen, and with this latest round we can serve them even better. In addition, we can now onboard new customer segments that will benefit from market-leading on-chain analytics”, says Alex Svanevik, co-founder and CEO at Nansen. “We’re ready for a new phase of growth, accelerating our international expansion, scaling up our data capabilities to support the wider blockchain ecosystem, and providing global investors with a world-class product to explore the latest crypto trends and make more informed decisions”.
“During the past year we’ve witnessed an explosion in activity in crypto, including new areas such as NFTs and DeFi”, said Andrei Brasoveanu, Partner at Accel. “With transaction information in this space extremely fragmented across different projects, exchanges and chains, there’s a huge opportunity for Nansen to become investors’ go-to platform for crypto insights and data, offering a trusted, single source of truth. Alex, Evgeny and Lars’ deep experience in both data and crypto, the world-class product, and impressive traction since founding set the company up for an exciting journey ahead!”
To get access to more than one billion transactions, 100+ million addresses, and actionable insights in the DeFi and NFT markets, visit Nansen’s website.