Cryptocurrency data firm Messari raises $21 million from Coinbase, Kraken in Series A funding round

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2021-08-05 15:28:01

Messari, a company that aggregates and analyzes data on the crypto market, has raised $21 million in a Series A funding round, according to a press release from the company.

Cryptocurrency data firm Messari raises $21 million from Coinbase, Kraken in Series A funding round

This funding round led by investors from Point72 Ventures. The company also raised capital from the exchange’s venture capital funds, including Coinbase Ventures, Kraken Ventures, and Blockchain Ventures.

Founded in 2018 by former Digital Currency Group employee and CoinDesk executive Ryan Selkis, Messari has become a trusted source for price data as well as market research.

The funding in this round is considered quite high for a company looking to scale (albeit fairly similar to the general ground in the crypto market)—evidence of the need for funds. In-depth market data as the number of coins and tokens continuously grows.

Messari plans to use this capital to create more educational content, build a community of researchers, and create products for organizations. These factors will help the company compete with a host of other data analytics companies, such as Coin Metrics and Glassnode.

“This new funding reinforces the value we have created for clients in the crypto market and also opens up opportunities for newcomers to come,” Selkis said in the press release. this market.”

Messari previously raised $5 million in seed funding and venture capital rounds in 2018 and 2019.

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