Metrika, a blockchain intelligence platform, has raised $14 million in a Series A round to fund the next phase of its expansion strategy.
Metrika announced on Tuesday that the funds will be used to increase its user base and further develop its blockchain intelligence platform, which provides monitoring and analytics for decentralized networks.
Neotribe Ventures led the financing round, which included Coinbase Ventures, Samsung NEXT, Nyca Partners, and others. Metrika has raised a total of $17.7 million, including its $3.7 million seed round.
Despite the fact that Metrika has yet to become a household brand in the world of blockchain intelligence, it has a number of high-profile clients, including Algorand, Solana, Blockdaemon, and NBA Top Shot maker Dapper Labs.
Metrika offers a business intelligence service that assists firms in monitoring and improving the health of their blockchain networks.
The decentralized economy’s ongoing rise has sparked a fresh need for blockchain intelligence services. This need isn’t restricted to market participants, as Cointelegraph recently highlighted, but also includes authorities.
The US Securities and Exchange Commission offered blockchain analytics firm AnChain.AI a $125,000 yearly contract last month to help monitor and regulate the DeFi market, according to a representative for the company.
Meanwhile, cryptocurrency exchange Coinbase just signed its second deal with US Immigration and Customs Enforcement for its blockchain analytics business.
There’s also indication that the payments industry is incorporating blockchain intelligence technologies as part of its broader use of cryptocurrencies. Mastercard said earlier this month that it had purchased crypto forensics firm CipherTrace for an undisclosed sum.
