Messari, a cryptocurrency analytics and research startup, announced on Wednesday that it has raised a $4 million fundraising round led by Uncork Capital with new participation from Coinbase Ventures.
Today, we’re proud to announce our latest round led by @uncorkcap and joined by new investors, @Coinbase and @balajis. We’d also like to welcome @Jeff to our board of directors! https://t.co/R7c48cZ0F2
— Messari (@MessariCrypto) November 13, 2019
According to the announcement, the capital will go towards developing Messari’s Disclosure Registry, an open-source database for investors and stakeholders to keep tabs on the status of blockchain projects, in addition to improving Messari Pro research and data analytics.
“This funding round will help us invest in the tooling necessary to further automate our data ingestion processes and redistribution capabilities for Registry clients, as well as broaden our analytical product offering for crypto professionals,” stated the Messari team in the announcement. “In addition to aggregating disclosures and quantitative data on hundreds of tokens, we’ve recently also launched an array of compliance tools and an enterprise API aimed at serving the global market of funds, exchanges, and brokers investing in crypto assets.”
Messari also plans to release an asset monitoring service for compliance teams in Q3, in addition to a more accurate circulating supply data feed for index managers.
“Ryan and the team at Messari are building critically needed infrastructure that is currently lacking in the crypto ecosystem,” added Jeff Clavier, who led the investment from Uncork Capital. “If crypto is going to become a mainstream asset class, it needs quality data that is open and transparent. The Messari team are pioneers in the industry, and have built a strong picks and shovels business in an otherwise volatile and unpredictable market.”
Anthemis Group, Blockchain Capital, CoinFund, Danhua Capital, Fabric Ventures, Fenbushi Capital, Semantic Ventures and Underscore VC also participated in the round.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.