Nansen Raises $12 Million in Series A Funding
Nansen has raised a $12M Series A round led by Andreessen Horowitz (a16z).
Skyfall Ventures, Coinbase Ventures, imToken Ventures, Mechanism Capital, QCP Capital also participated in the round, as well as several of seed investors, new angels and funds.
The fresh capital raised in this round will go towards:
- Enhancing user experience, with an emphasis on personalization
- Their data platform, pushing the envelope as the #1 blockchain analytics platform
- Increased support for additional blockchains and layer 2 solutions, including Polygon, Optimism, Arbitrum, and more
- Talent, through hiring and acquisitions
Simply displacing traditional finance is not enough. Blockchain has a 10x potential vs traditional finance. Shouldn’t we hold the same high standards for blockchain analytics?
In traditional finance, most investors rely on coarse macro metrics. In crypto, blockchain analytics allows you to go much deeper – down to the individual transaction.
The average investor in traditional finance could only dream of the transactional insights Nansen users get from on-chain data as they:
- discover new opportunities
- perform due diligence on those opportunities
- defend their portfolios with real-time alerts
Blockchains are built differently, allowing for radical transparency that enables meritocracy.
Nansen went live in April 2020, and on our first day, we had a paying customer. That first month, they made a few hundred dollars in revenues. One year later, our revenue had gone up by over 1,000x. They’ve also grown from three co-founders to a team of 30 people.
Although they’ve spent a lot time onboarding new team members this year, growing the team has already led to improvements in the product. Since the release of first version, they have:
Redesigned User Interface — more intuitive navigation, better-looking charts, dark mode by default
Made Queries Faster — they know that speed is critical when it comes to exploring opportunities, and that is why they’ve made our queries faster
Added Smart Alerts — real-time alerts based on your own custom rules, powered by Nansen data
Introduced New Dashboards — Hot Contracts, NFT God Mode, Smart Money, and lots of other dashboards
What is Nansen?
Nansen is a blockchain analytics platform that enriches on-chain data with millions of wallet labels. Crypto investors use Nansen to discover opportunities, perform due diligence, and defend their portfolios with real-time alerts.
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