Steve Cohen backs Messari in $21 million Series A

Billionaire Steve Cohen’s venture firm Point72 Ventures led Messari’s Series A round of $21 million.

2/ We’ve never been more bullish on crypto or our unique position in the market. This round will help us:

+ reinvest in our core platform, add new data sets & analytics tools
+ grow our team from 30 to 75 by 2022
+ build a 1,000+ analyst Hub

And more. 🙃https://t.co/fDd0JOnAFu

— Ryan Selkis (@twobitidiot) August 5, 2021

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Participants in the funding round included Coinbase Ventures, Alameda Capital, Blockchain Ventures, Galaxy Digital, Gemini Frontier Fund, Kraken Ventures, as well as crypto funds CMS Holdings, Nascent and Underscore VC. The individual investor was Diogo Monica, president of the crypto bank Anchorage.

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Following the round, Adam Carson, operating partner at Point72 Ventures, joined Messari’s board of directors.

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Messari founder Ryan Selkis described the funding as an ‘important milestone’ in its development.

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‘This news means that we can triple the number of products that organise and contextualize crypto data for our users and fulfill our mission to enable smarter participation in the rapidly evolving crypto-economy,’ he wrote in a blog post.

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The firm also intends to:

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• expand the business beyond the United States, including offering products in languages other than English;
• increase the number of DAO partners to deepen analytics of the space;
• increase the number of Messari Hub analysts brought on to 1,000 specialists;
• expand its own team.

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Earlier, the company had raised $4 million.

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PwC noted that in 2021 venture deals in the crypto industry grew larger, raising the barrier for smaller investors.

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