Financing will fund go-to-market expansion and product innovation to address accelerating institutional adoption of cryptoassets
Amberdata, the leading provider of digital asset data, announced it has raised $30 Million in Series B funding led by Knollwood Investment Advisory. Susquehanna International Group, Nasdaq Ventures, NAB Ventures, Chicago Trading Company, Nexo, Coinbase and Innovius participated in the capital raise alongside existing investors Citi, Franklin Templeton, Aspenwood Ventures, Rovida Kruptos Assets, and Boldstart Ventures.
Amberdata delivers comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance (DeFi) to the world’s largest financial institutions entering the digital asset class. This financing will fund product innovation and expand go-to-market in the United States and internationally to address the accelerating institutional adoption of digital assets.
"The rate of institutional adoption of crypto is truly astounding," said Shawn Douglass, CEO at Amberdata. "We’ve seen our revenue double in the first quarter of this year as the world’s largest financial institutions come to us for the critical data they need for research, trading, risk, analytics, reporting and compliance as they enter digital assets. Amberdata is poised for massive growth and this financing will allow us to accelerate expansion of our worldwide go-to-market activities, scale our industry-leading data infrastructure, and build out our world-class customer success team. It will also allow us to accelerate new product initiatives including expansion of DeFi depth and coverage, development of digital asset indices, and market intelligence and risk analytics applications. It is our intent to extend our leadership and continue to define the category for institutional digital asset data and research applications."
Amberdata is the only digital asset data provider offering granular historical and real-time fundamental (on-chain), DeFi and market data, eliminating the need to source and integrate data from multiple vendors. Leading financial institutions choose Amberdata as their trusted digital asset data partner to eliminate the infrastructure setup, integration challenges and maintenance headaches to access digital asset data, reducing cost and time to market for entering the asset class.
“Nasdaq is pleased to support Amberdata as they deliver comprehensive, high-quality digital asset market data and blockchain analytics to the investment community,” said Benjamin Blueweiss of Nasdaq Ventures. “With digital assets and decentralized financial services gaining adoption, we are excited about future opportunities to partner with Amberdata to bring unique insights to a broader set of stakeholders.”
"There is an avalanche of capital in traditional finance waiting to be deployed into crypto and other digital assets. Amberdata’s platform is a critical piece of infrastructure necessary to unlock a whole new institutional asset class," said Eliot Durbin, General Partner at Boldstart Ventures. "We’re looking forward to the next phase of growth as Amberdata starts building DeFi applications and analytics on top of its market leading data infrastructure platform."
“Institutional demand for digital assets has gone parabolic this market cycle, and Amberdata’s data analytics solution gives institutional investors the market intelligence they need to meet client and proprietary information needs,” added Tatiana Metodieva, CFA, Nexo Head of Corporate Finance and Investments. “Nexo Ventures’ mission is to accelerate the progression of the digital assets industry, and our investment in Amberdata will help build an informational bridge for institutional investors entering the market.”