The Series B funding brings Nansen to a $750M valuation. Here are the top-line bullets you need to know.
Nansen, a crypto analytics company, has raised $75M in a Series B round that drew participation from Accel, Andreessen Horowitz, Amplify Partners, SCB 10X, and Folius Ventures, among others.
- Singapore-based Nansen is a blockchain data and analytics provider that helps investors and financial institutions make decisions regarding project discovery, due diligence, and trading.
- Its product suite consists of Nansen Query, Nansen API, Nansen Ecosystem, Nansen Standard, and Nansen Alpha.
- Its subscriber base has grown by 20x over the past year — crypto organizations like Polygon, Axie Infinity, and Lido use the company’s platform.
- Since its last funding round in June, it has hired over 55 new team members across 28 countries.
Why does the market matter?
- The cryptocurrency market is expected to reach a value of $2.2B by 2026, growing at a CAGR of 7.1%, according to Markets and Markets.
- Crypto has applications across peer-to-peer payments, remittances, e-commerce, retail, media & entertainment, and other industries as well.
- The growth of crypto has given rise to concerns regarding its potential to enable fraud and financial crime, increasing regulatory pressure as well as the demand for analytics tools for compliance and risk management.