Blockchain Analytics Platform Nansen Raises $75 Million at Reported $750 Million Valuation

Key highlights:

  • Blockchain analytics platform Nansen has raised a $75 million Series B
  • Reportedly, the deal values Nansen at $750 million
  • Nansen also raised a $12 million Series A in June

Nansen raises $75 million as investors show interest in on-chain analytics

Blockchain analysis platform Nansen has raised $75 million in a Series B round that values the company at $750 million. The round was led by Accel, and also included other notable investors like GIC, Andreessen Horowitz and Tiger Global. The company’s valuation is especially impressive since Nansen was only launched in 2020.

Nansen’s analytics platform supports the Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche, Celo and Ronin blockchains. The platform allows users to view detailed on-chain data connected to specific tokens, wallets, and contextualize on-chain transactions. For example, DeFi and NFT speculators can use Nansen to identify opportunities that whales and prolific on-chain entities are interacting with.

The Nansen platform is accessible through paid subscriptions, with Nansen offering 3 different tiers. Some of its information is available publicly, like the Gas Tracker dashboard for tracking gas consumption on the Ethereum network.

Nansen CEO Alex Svanevik commented on Nansen’s plans to accelerate their growth:

“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.”

According to Nansen’s announcement, they plan to expand their selection of supported blockchains to more than 10 chains. 

Nansen’s Series B follows a $12 million Series A announced in June, which was led by Andreessen Horowitz. Between the Series A and Series B, Nansen hired 55 new team members, launched a line of products targeting institutions, and expanded its coverage to more than 100 million different wallet labels.

Cryptocurrency are blockchain companies have been very active in raising capital recently, and investors are now also showing demand for the cryptocurrency analytics sector. The Block reports that Dune Analytics, a platform that allows users to create dashboards powered by on-chain information from Ethereum and other EVM-compatible blockchains, is about to raise capital at a $1 billion valuation. 

Source link: https://coincodex.com/article/13186/blockchain-analytics-platform-nansen-raises-75-million-at-reported-750-million-valuation/

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