Digital asset data provider Amberdata has secured $30 million in a recent Series B funding. The funds according to the company will be used to extend the company’s market presence in the United States and around the world.
In a statement, Shawn Douglass, CEO of Amberdata, said, “The rate of institutional acceptance of crypto is simply remarkable.” “As the world’s greatest financial institutions embrace digital assets, we’ve seen our revenue double in the first quarter of this year as they turn to us for the crucial data they need for research, trading, risk, analytics, reporting, and compliance.”
According to Douglass, the money will be used to increase the company’s customer satisfaction team, expand its DeFi coverage, and build “digital asset indexes, market intelligence, and risk analytics apps.”
Susquehanna International Group, Nasdaq Ventures, NAB Ventures, Chicago Trading Company, Nexo, Coinbase, and Innovius were among the investors in the round, which was led by Knollwood Investment Advisory.
Last year, the business raised $15 million in a Series A financing headed by Citi to expand its research staff. Citi, Franklin Templeton, Aspenwood Ventures, Rovida Kruptos Assets, and Boldstart Ventures were among the previous investors in this round.
In recent months, investors have become increasingly interested in crypto analytics and data-providing firms. After a Series B investment in February, Dune Analytics, a bitcoin analytics platform, became a unicorn. Kaiko, a crypto data provider based in Paris, raised $24 million in a Series A fundraising round last year.