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Finance

Coin Metrics Raises $35M for Crypto Data Provision

The funding round was led by Acrew Capital and BNY Mellon.

By Camomile Shumba
AccessTimeIconApr 6, 2022 at 11:29 a.m. UTC
Updated May 11, 2023 at 5:58 p.m. UTC
One man and one woman's hands handing off large stack of US 100 bills, purple background
One man and one woman's hands handing off large stack of US 100 bills, purple background

Coin Metrics, a crypto intelligence company, raised $35 million to enhance its product offerings and customer base, according to a press release on Wednesday.

  • The series C financing for the Boston-based company was led by Acrew Capital, a venture capital firm, and BNY Mellon.
  • New investors in the round included Cboe Global Markets and Brevan Howard Digital. Goldman Sachs, Fidelity Investments and other previous investors also participated.
  • This money will help Coin Metrics, which provides crypto network and market data to financial institutions, fund international expansion and the development of new products, including decentralized finance (DeFi) and other decentralized application metrics.
  • "This financing will enable us to accelerate both our business and product roadmap," co-founder and CEO Tim Rice said in the statement.
  • In May 2021, the company raised $15 million in a series B funding round led by Goldman Sachs.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Camomile Shumba
    Camomile Shumba

    Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

    Follow @camomileshumba on Twitter