Goldman Sachs Leads $15 Million Series B Round for Coin Metrics

Analytics firm Coin Metrics has raised $15 million. The Series B funding round was led by investment bank Goldman Sachs.

Goldman Sachs leads $15 million Series B investment in Coin Metrics.

Read the full press release:https://t.co/IH3euUCih7 pic.twitter.com/nAl2qtDRSC

— CoinMetrics.io (@coinmetrics) May 5, 2021

Participants included Acrew Ventures, BlockFi, Morningside Group and Warburg Serres Investments.

Previous investors also provided financing — Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital and Collab+Currency.

The proceeds will be used by Coin Metrics to expand globally, broaden the range of supported blockchains and markets, and improve its product lineup.

“Our clients will benefit greatly from institutional-grade data analytics and new risk-management tools. This is a key component in the integration of cryptocurrencies.”, said Matthew McDermott, head of the Digital Assets division at Goldman Sachs.

The Coin Metrics index product, combining market and on-chain data, has won recognition from players such as Fidelity Investments, Osprey Funds and BlockFi.

The company’s FARUM tools for network risk management and ATLAS for block analysis have also proven popular among major investors.

In October 2020, Coin Metrics and auditing firm KPMG joined forces in developing products aimed at institutional adoption of cryptocurrencies.

In February 2021, the custodian BitGo joined the alliance. As a result, a combined offering for storage, data processing, as well as risk and regulatory-compliance monitoring and security assurance, emerged.

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