The New York-based blockchain big data startup Amberdata has just recently concluded its Series B funding round netting $30M. Amberdata is the leading provider of digital asset data, delivering comprehensive data and insights into blockchain networks, crypto markets, and DeFi thereby empowering financial institutions with data for analytics, research, risk, trading, reporting and compliance.
This offering was led by Knollwood Investment Advisory. Other participants include Nasdaq Ventures, Susquehanna International Group, NAB Ventures, Chicago Trading Company, Nexo, Coinbase and Innovius alongside existing investors Citi, Aspenwood Ventures, Franklin Templeton, Rovida Kruptos Assets and Boldstart Ventures.
Supporting the institutional adoption of crypto
Amberdata is actively defining the Cryptoeconomics data provider category with its solutions. The female co-founded startup combines validated blockchain and crypto market data from leading crypto exchanges into a unified platform and API. It then enables its customers to build data-powered apps to develop and maintain an edge over their competition.
Amberdata is unique in that it’s the only digital asset data provider offering granular historical and real-time fundamental (on-chain) DeFi & market data which eliminates the need to source and integrate data from multiple vendors. The startup is also preferred by leading financial institutions as their trusted digital asset data partner as it eliminates the infrastructure setup, integration challenges and maintenance headaches. Access to digital asset data is consequently easier, less costly and makes it the asset class more accessible.
Founded in 2017 in Paloalto, California by Shawn Douglass and TongTong Gong, the startup has quickly grown to serve as a critical piece of infrastructure for financial institutions entering the asset class and participating in digital asset markets.
“The rate of institutional adoption of crypto is truly astounding,” remarked Amerdata’s CEO Shawn Douglass. “We’ve seen our revenue double in the first quarter of this year as the world’s largest financial institutions come to us for the critical data they need for research, trading, risk, analytics, reporting and compliance as they enter digital assets.”
Amberdata is poised for massive growth and will aim to accelerate it, rapidly expanding its worldwide go-to-market activities, scaling its industry-leading data infrastructure, and building out its world-class customer success team. This funding will also allow Amberdata to accelerate new product initiatives including the expansion of DeFi depth and coverage, development of digital asset indices risk analytics applications and market intelligence.
“Institutional demand for digital assets has gone parabolic this market cycle, and Amberdata’s data analytics solution gives institutional investors the market intelligence they need to meet client and proprietary information needs,” remarked Nexo’s Head of Corporate Finance and Investments, Tatiana Metodieva, CFA. “Nexo Ventures’ mission is to accelerate the progression of the digital assets industry, and our investment in Amberdata will help build an informational bridge for institutional investors entering the market.”