Nansen Scores $75M Series B, Attracts Tiger Global, Andreessen Horowitz as Investors

Nansen, a blockchain data analytics platform, has raised a $75 million Series B round led by Accel. GIC, Andreessen Horowitz (a16z), Tiger Global, and SCB 10X are among the VCs and angel investors who also participated in the round. This funding will be used to fuel Nansen’s next phase of growth and development, including hiring developers and research analysts, and expanding the platform’s features and multichain integrations at a global scale.

The company analyzes on-chain data points, wallet labels and entities on blockchains such as Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche and Celo. Using the company’s market intelligence and analytics, investors and financial institutions can make more informed decisions when it comes to project discovery, due diligence, and trading. It enables exploration of complex on-chain data on investors’ money flows, exchange activity, and analyzing emerging trends in DeFi, NFTs and DAOs through visual dashboards.

Founded in 2020, Nansen has experienced rapid growth and user adoption with retail investors, as well as institutional investors such as Three Arrows Capital, DeFiance Capital, Genesis Block Ventures, Not3Lau Capital, Polychain, YBS Capital and Acheron Trading. Nansen’s platform is also used by crypto teams such as Axie Infinity, Polygon, and Lido.

Nansen scored additional funding helping them drive the next phase of global growth, alongside major investors including Amplify Partners, L1 Digital, Cristóbal Conde (chairman of Fimatix), Skyfall Ventures, Folius Ventures, Old Fashion Research, Adam White (president of Bakkt), Ryan Rabaglia (Libra Capital Ventures), Prabhakar Reddy (co-founder of FalconX), Anastasia Andrianova (CEO of Akropolis), and Ameet Patel.

This Series B funding round comes six months after Nansen raised its Series A. In that time, it said it has more than quadrupled its user base and hired more than 55 new team members across 28 countries. These hires include research analysts and developers to increase the company’s exposure to all popular blockchains.

The funds raised in this round will help the company scale even further and introduce product lines for new audiences. Institutional customers will be able to access on-chain data programmatically via Nansen Query and a new Nansen API. Protocol teams will be able to publish and access on-chain product analytics via the Nansen Ecosystem. Individual investors and crypto funds will see major improvements to Nansen Standard and Nansen Alpha, including support for more than 10 blockchains.

“2021 has been an inspirational year for us,” Nansen co-founder and CEO Alex Svanevik said. “We’re grateful for how much our customers love Nansen, and with this latest round we can serve them even better. In addition, we can now onboard new customer segments that will benefit from market-leading on-chain analytics.

“We’re ready for a new phase of growth, accelerating our international expansion, scaling up our data capabilities to support the wider blockchain ecosystem, and providing global investors with a world-class product to explore the latest crypto trends and make more informed decisions”.

“During the past year we’ve witnessed an explosion in activity in crypto, including new areas such as NFTs and DeFi,” added Andrei Brasoveanu, partner at Accel. “With transaction information in this space extremely fragmented across different projects, exchanges and chains, there’s a huge opportunity for Nansen to become investors’ go-to platform for crypto insights and data, offering a trusted, single source of truth. Alex, Evgeny and Lars’ deep experience in both data and crypto, the world-class product, and impressive traction since founding set the company up for an exciting journey ahead.”

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