Messari Closes Series B Funding Round With $35M Led by Brevan Horward Digital
- Participants in the Messari Series B funding round include Morgan Creek Digital, Samsung Next, and FTX Ventures.
- During the summit, the company announced the launch of two new products dubbed Protocol Metrics and Data Apps.
- The company provides vital data to cryptocurrency investors and researchers, with premium data sold via subscription.
Messari, a leading provider of crypto market intelligence products, has closed its Series B funding round with approximately $35 million. Messari announced today during the Mainnet 2022 summit, noting that the funding round was led by Brevan Howard Digital.
According to the company, the raised funds will be channeled towards expanding Messari’s growing team. Additionally, a portion of the funds will be used to develop Messari’s offerings, including its newly-launched products, Protocol Metrics and Data Apps.
According to the announcement, major participants in the Messari Series B funding round include Morgan Creek Digital, Samsung Next, and FTX Ventures. Additionally, investors like Point72 Ventures, Kraken Ventures, Uncork Capital, Underscore VC, Galaxy, and Coinbase Ventures.
“We’re excited to welcome a remarkable group of investors as partners in our next growth phase,” said Ryan Selkis, Messari’s Co-founder & CEO. “We are committed to providing investors, crypto enterprises, and token communities with the tools they need to participate in the crypto economy. This new funding will help us grow our team, expand internationally, and invest in new data offerings and tools that complete our market-leading product suite.”
Messari and the Cryptocurrency Industry
During the Mainnet 2022 summit, the company announced the launch of two new products dubbed Protocol Metrics and Data Apps. Notably, Protocol Metrics enable users to compare assets across multiple networks through transparent data standardisation and analyse the health, growth, and usage of a network. Otherwise, Messari users can use the Data Apps to explore customised data sets.
Speaking on the matter, Florent Moulin, Messari’s Director of Product, noted that the company has significantly grown in the past by developing products that are customer oriented.
“With the launch of Protocol Metrics and Data Apps, we’re ushering in an era where Messari is as equally strong of a data provider as it is a research and analytics provider. We look forward to seeing the type of Web3 talent this new era attracts,” Moulin noted.
Messari provides vital data to cryptocurrency investors and researchers, with premium data sold via subscription. In a market heavily described by crazy speculation leading to high volatility, transparent data is vital for traders.
In its latest Bitcoin market update, the company noted that the daily transactions for the Btc network have remained unchanged for the year, averaging around 250,000 per day. Reportedly, last quarter to date, the average fee per transaction for the Bitcoin network was around $1.4, down 21 per cent for the quarter and 55 per cent for the year.
The cryptocurrency market is still young but with excellent prospects of growing exponentially in the coming years. However, investors have a challenging time when going through different crypto projects. As such, Messari steps in to provide precise data to help investors make sound judgements.