Nansen raised $75 M to assist customers in making educated judgments before investing
Nansen, a blockchain analytics platform provider located in Singapore, has raised $75 million in a Series B funding round headed by Accel Partners.
This round was also joined by 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).
Nansen plans to use the funds to expand its business, hire additional employees, and create new product offerings for retail and institutional clients. It also intends to broaden its worldwide reach by incorporating cutting-edge 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.
Nansen is a blockchain analytics tool that adds millions of wallet labels to on-chain data. It allows users to know where their money is going, discovers new projects or tokens, and track transactions down to the last penny. This allows people to make well-informed judgments before committing to a new crypto project or token.
Users can also establish smart notifications and track when and where a wallet address has moved their cash using the platform. They may also track the most active cryptocurrency investors in real-time. According to the company, it has analysed and labelled over 100 million Ethereum wallets and their behaviour.
Nansen received a Series A round of funding in June of this year. Since then, it has added Binance Smart Chain (BSC), Fantom, Avalanche, Celo, and Ronin to its list of supported blockchains, which now includes Ethereum and Polygon.
It also claims to have expanded its wallet label coverage to over 100 million across several blockchains. Nansen has also launched a new range of institutional products, which includes 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.
