Crypto back-office platform Cryptio has raised a $10 million Series A funding round, according to the company.
Point Nine led the funding, along with early investors Chainalysis, Revolut and Zendesk. Other investors include: BlueYard, Alven, Coinshares, Avantgarde Finance, Protocol Labs, and Draper Associates. Senior executives from Twitter, GoCardless, Fireblocks, and Ledger also participated in the round as angel investors.
Cryptio aims to bridge legacy accounting and digital asset services and offerings with an “enterprise grade” crypto accounting and reporting service. The company reports revenue grow of 12x since its seed round led by Draper Associates in March last year.
Clients include over 200 crypto-native enterprises such as Consensys, Aave, DeFi Saver, and The Sandbox.
Antoine Scalia, Founder, and CEO of Cryptio, explained that the biggest challenge at the institutional level is having auditable and reliable transaction history data.
“Block explorers and third-party data providers often fail to capture complex crypto activity like DeFi, Staking, Mining, and NFTs. These discrepancies can’t be tolerated at the institutional level. At Cryptio, we’re obsessed with data accuracy and have partnered with Layer-1 foundations to build proprietary blockchain indexers. We’re able to reliable pull transaction data and perform mini-audits, ‘sanity checks’ to prove data quality.”
Louis Coppey, Partner at Point 9, said they are proud to be backing firms like Chainalysis and other infrastructure firms and one of the most critical yet still missing infrastructures to enable broader corporate adoption of token-based financial products is a service like Cryptio’s.
