a16z leads $12m investment in analytics firm Nansen

The Nansen platform raised $12 million following a Series A funding round led by Andreessen Horowitz (a16z).

We’re excited to announce that Nansen has raised a $12 million Series A round led by @a16z!

Read the announcement below:https://t.co/YU2a99MlOP

— NansΞn (@nansen_ai) June 29, 2021

The round also saw participation from Skyfall Ventures, Coinbase Ventures, imToken Ventures, Mechanism Capital and QCP Capital. The funds will be used to expand the team, user base, and the platform’s functionality.

The developers plan to add support for the Polygon and Binance Smart Chain platforms, as well as Ethereum scaling solutions from Optimism and Arbitrum.

Founded in 2020, the Nansen platform uses machine learning and other advanced technologies to track activity on the Ethereum blockchain. Last week, Andreessen Horowitz launched its third cryptocurrency fund with assets of $2.2 billion.

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