AmberdataAn digital asset data provider focused on an organization, has raised $ 30 million for Series B, its manager Shawn Douglass told TechCrunch in particular.
The company is currently valued at $ 330 million and has raised $ 47 million to date, including $ 2 million worth of sightings and $ 15 million in Series A.
“We have decided to make this upgrade now because we have grown so much over the last year that there is an unlimited opportunity to go out and become an infrastructure that will enable all agencies to upgrade their digital assets, “Douglass said.
The capital will be used to build new production lines, and although Amberdata already has agreements with the US, UK, Latin America, Singapore and Australia, it wants to expand globally, Douglass said.
As its name suggests, Amberdata provides data and insights into blockchain networks, crypto exchanges and broader economies of some of the largest financial and digital institutions such as Citi, Coinbase, Nasdaq, Franklin Templeton, and others.
“If you think about it, digital assets will affect everyone and the planet businesses that are changing the economy and that requires data and insights to be able to take that,” Douglass said.
The circuit was led by Knollwood Investment Advisory and includes investments from Susquehanna International Group, Nasdaq Ventures, NAB Ventures, Chicago Trading Company, Nexo, Coinbase and Innovius. Former investors who have also joined the round include Citi, Franklin Templeton, Aspenwood Ventures, Rovida Kruptos Assets, and Boldstart Ventures.
When Amberdata first launched in 2017, there were high hopes for agencies and companies entering the space at that time, but it did not happen, Douglass said.
“Today, every bank, every trading company on the planet is embracing digital assets and they know otherwise they would be irrelevant,” Douglass said. “So there is a tsunami of adoption and we are helping them by accelerating their marketing time and being smarter and making informed decisions.”
But what is most important, now? What is happening in the market, Eliot Durbin, general partner of Boldstart Ventures and capital investor Amberdata, told TechCrunch.
“In the next three years, we will see more money in this market [there has been] managed to this day because agencies are rising and preparing to do so now, ”Durbin said.
While the exact timing is debatable, Durbin said he believes the top five banks will handle crypto as soon as possible and will need this data from market institutions.
“Banks are coming in, big institutions are coming in and they will need it [data] to conduct their taxes, accounts, treasury management and all the compliance policies they are currently developing, ”Durbin said.
There is a direct trend across the market that is fundamentally changing all types of financial services, Douglass argues. Financial products have been developed to create transparency and openness, with 24/7 access to them, he said.
“This has attracted the attention of every bank, every exchange and every financial service business, every insurance company, every regulator, everybody,” Douglass said. “They all need access to information to make important decisions and we provide that comprehensive view of the entire crypto economy.”