By
Chimamanda U. Martha
December 21st, 2023
In August 2021, Messari raised $21 in a Series A funding round.
Crypto data and analytics platform Messari has in a Series B funding round led by Brevan Howard Digital raised 35 million according to reports. In addition, the likes of Point72 Ventures who took part in its Series A funding round in August 2021 participated in the event. Some of the new participants were FTX Ventures, Morgan Creek Digital, Samsung Next, etc. According to Ryan Selkis, Messari’s Co-founder & CEO, the funding will be used to expand the team while they invest some in new products and tools.
“We’re excited to welcome a remarkable group of investors as partners in our next phase of growth. 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, ” he said.
The firm has come up with a new product namely: Protocol Metrics and Data Apps. The Protocol Metrics was designed to “compare assets across multiple networks through transparent data standardization and analyze the health, growth, and usage of a protocol.” With the Data App platform, the company has disclosed that it will be in Beta at launch. At the Mainnet 2022 summit which would begin on September 23, the firm would release the demo for both products as claimed by reports.
Selkis mentioned that the August funding would be used in hiring more than 1000 analysts.
“We’re going to be aggressively expanding our Analyst Hub (goal is still to onboard 1000 analysts), and build governance and community management tools for DAOs,” he said.
In August 2021, Messari raised $21 in a Series A funding round led by DCG and CoinDesk alum Ryan Selkis. Point72 which was also a participant in the current event has always plotted to enter the crypto market by taking advantage of its venture fund and hedge fund to explore the space.
Point72 CEO Steven Cohen in a statement mentioned that the development of the crypto industry “could be a real interesting adjacency” from their usual operation. He added that he would not miss this.