There were some big names in the crypto industry among the investors, like people from Coinbase, Anchorage, and Dapper Labs.
Integral, a company that makes a platform for real-time accounting, said Tuesday that it had closed an $8.5 million funding round led by Electric Capital. The money was the first time the company had been given money. The company’s goal is to bring financial data to the Web3 world.
Integral makes software for Web3 teams to help them manage their money. Real-time analysis of things like profit and loss statements, balance sheets, and cash flow is useful for all companies, but it’s especially important for crypto companies because the difference between two financial decisions made a few days apart could be worth millions of dollars in crypto assets. In the past five months, Integral has helped process about $5 billion worth of crypto transactions, according to a statement from the company.
In this round of funding, investors like the former Chief Technology Officer of Coinbase, Balaji Srinivasan, the co-founder of Color Genomics, Elad Gil, Hustle Fund, Mantis, Maple VC, the founder of Anchorage, Diogo Monica, and the founder of Dapper Labs, Roham Gharegozlou, are all well-known names in the crypto industry.
Avichal Garg, co-founder, and partner at Electric Capital, said in a statement: “Real-time finance is a must for any serious Web3 project or Web2 company that wants to start exploring Web3. To stay ahead of the competition, all companies and protocols will need financial tools that can be used quickly and on a large scale.”
