Singapore-based Nansen, a provider of an analytics platform for blockchain, has received US$75 million in a Series B financing round led by Accel Partners.
GIC, Andreessen Horowitz (a16z), Tiger Global, SCB 10X, 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 also joined this round.
Nansen will utilise the capital for growth, hiring, and developing new product offerings for retail and institutional customers. It also plans to expand its global presence by adding innovative platform features and multichain integrations.
“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,” said Nansen CEO Alex Svanevik.
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Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallets labels. It lets users see where funds are moving to, identify new projects or tokens, and trace transactions down to the granular level. This way, it enables them to make informed decisions before investing in a new crypto project or token.
In addition, the platform lets users create smart alerts and track when and where a wallet address has been moving their funds. They can also analyse the real-time behaviour of the largest crypto investors.
The firm claims it analyses and labels over 100 million Ethereum wallets and their activity.
In June this year, Nansen raised a Series A round of investment. Since then, it has expanded its blockchain support from Ethereum and Polygon, including Binance Smart Chain (BSC), Fantom, Avalanche, Celo and Ronin. It also claims to have increased its coverage to 100 million-plus wallet labels across multiple blockchains.
Nansen has also added a new institutional product line, including Nansen API and Nansen Query.
“This is just the beginning, and we plan to introduce product lines for new audiences and scale even further. Institutional customers will be able to access market-leading on-chain data programmatically via Nansen API and Nansen Query. Protocol teams will be able to publish and access on-chain product analytics via the Nansen Ecosystem offering. Individual investors and crypto funds will see major improvements to Nansen Standard and Nansen Alpha, including support for 10+ blockchains,” Svanevik added.
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