Crypto Financial Intelligence Company Coin Metrics Raises $15 Million

By Noah Long ● May 26, 2021
  • Coin Metrics — a leading provider of crypto financial intelligence — announced that it raised $15 million in Series B financing. These are the details.

Coin Metrics — a leading provider of crypto financial intelligence — announced that it raised $15 million in Series B financing led by Goldman Sachs. Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency are also increasing their investment in the company after participating in previous fundraising rounds. They are joined by new investors Acrew Ventures, Morningside Group, BlockFi, and Warburg Serres Investments. And Mathew McDermott, Managing Director at Goldman Sachs, and head of their blockchain and crypto expansion efforts, will be joining Coin Metrics’ Board of Directors.

Coin Metrics offers network data, market data, indexes and network risk solutions to the most prestigious institutions touching cryptoassets. And this financing will accelerate the company’s global expansion, enable further product innovation, and allow existing offerings to touch even more cryptoasset networks and markets.

The company had institutionalized their network and market data offerings over the past 18 months, creating a resilient infrastructure to meet the needs of the most discerning organizations. And their index offering — which utilizes elements of the market and network data offerings — has been adopted by some of the largest names in the cryptoasset ecosystem, including Fidelity Investments, Osprey Funds and BlockFi. Plus Coin Metrics recently announced several new products, including a network risk management offering FARUM and a universal block explorer ATLAS, both of which leverage the infrastructure of the existing data business.

Since the Series A funding round in 2019, Coin Metrics has built a world-class team, marrying cryptonative talent with veterans of the traditional financial services and data industries. And the company will continue to focus on attracting the best talent to set the industry standard for how crypto networks and assets are monitored and analyzed and share insights and intelligence to enhance the cryptoasset ecosystem as a whole.

KEY QUOTES:

“FARUM and ATLAS are perfect complements to our network and market data products. The tremendous interest we are seeing in these offerings reinforces the value of on-chain data to institutions engaging in cryptoassets. I couldn’t be more proud of what the team has built over the past 12 months. Our data is clearly on a path to becoming an integral part of the infrastructure for the future of finance.”

— Tim Rice, co-founder and CEO of Coin Metrics

“Data is critical for the mainstream adoption of cryptoassets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools.” 

— Mathew McDermott, Global Head of Digital Assets of Goldman Sachs.

“Coin Metrics is at the forefront of innovation and institutionalization in the digital asset markets. We are excited to be leading their Series B, thereby enabling their growth and supporting their mission to be the leading provider of data-driven market insights and intelligence for institutions in crypto.”

— Marianna Lopert-Schaye in Firmwide Strategy at Goldman Sachs