Amberdata, a US-based crypto-market data provider, raises $30 million

Amberdata, a US-based blockchain analytics startup, raised $30 million in a Series B round. It was led by Knollwood Investment Advisory.

We’re thrilled to announce we’ve closed our Series B Funding Round! #cryptocurrency #cryptoassets #digitalassets #DeFi https://t.co/YnlicGppBD

— Amberdata.io 📊📈 (@Amberdataio) May 4, 2022

Participants in the round included Susquehanna International Group, Nasdaq Ventures, NAB Ventures, Chicago Trading Company, Nexo, Coinbase and Innovius.

Existing investors — Citigroup, Franklin Templeton, Aspenwood Ventures, Rovida Kruptos Assets and Boldstart Ventures — increased their investments.

According to the press release, Amberdata provides “comprehensive data and information about blockchain networks, crypto markets, and the DeFi sector” to financial institutions that fall into the digital-asset class. Clients use the information for research, trading, risk assessment, analytics, reporting and compliance. 

“The pace of institutional adoption of cryptocurrencies is truly striking. In the first quarter our revenues doubled as the world’s largest financial institutions came to us for critically important data,” said Amberdata CEO Sean Douglas.

The company will use the funds to scale the business in the U.S. and abroad. Amberdata also plans to deepen and broaden its DeFi coverage, accelerate the development of crypto indexes and analytical products.

“There is a flood of capital in traditional finance waiting to deploy into cryptocurrencies and other digital assets. Amberdata’s platform is a critically important part of the infrastructure needed to unlock a completely new class of institutional assets,” said Boldstart partner Eliot Durbin.

Earlier in September 2021 startup attracted $15 million. The Series A round was led by Citigroup.