Nansen, a knowledge analytics firm that tracks cash flows throughout theblockchain, has raised $12 million in Sequence A funding led by Silicon Valley enterprise capital behemoth Andreessen Horowitz (a156z).
As a result of blockchains are public, it is attainable to trace the motion of cash between wallets and throughout the nascent decentralized finance () ecosystem.
Based in 2020, Nansen makes use of a mix of machine studying, algorithms and analysis to research crypto actions on the Ethereum blockchain. Nansen’s clients are principally considering gaining insights into what the sensible cash—establishments—does, CEO and co-founder Alex Svanevik instructed Decrypt, however its scope goes effectively past that: the corporate has labeled and tracks greater than 90 million wallets to date.
“I believe a16z invested in us as a result of they acknowledge that to ensure that the way forward for finance to grow to be a actuality, you want top-grade knowledge analytics,” Svanevik instructed Decrypt.
Actually, Andreessen Horowitz was one of many early clients of Nansen.
“As participation within the first actually open world monetary markets grows, merchants and collectors of all types—retail novices, institutional professionals, impartial specialists, and extra— will need to perceive what the sensible cash is doing throughout all blockchains,” stated Chris Dixon, Common Accomplice at Andreessen Horowitz, in a press release shared with Decrypt.
Final week, Andreessen Horowitz launched the $2.2 billion “Crypto Fund III,” its greatest deliberate funding for crypto up to now, focusing on initiatives in any respect levels from from startups to mature corporations. Svanevik stated the funding in Nansen comes from Andreessen Horowitz’s $510 million Crypto Fund II, launched in 2020. The agency determined to enter crypto and arrange its Crypto Fund I in 2018 with an funding for $300 million.
Nansen will use funds raised on this spherical to broaden its staff, knowledge platform, and attain extra clients, as Svanevik stated, “all the best way as much as the highest hedge funds and VC funds.” In step with buyer calls for, it should additionally transcend Ethereum, increasing to incorporate, Optimism, Arbitrum, and —one other signal that DeFi is rising past the Ethereum ecosystem.
Different taking part traders in Nansen on this spherical embody Skyfall Ventures, Coinbase Ventures, imToken Ventures, Mechanism Capital and QCP Capital.
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