Crypto portfolio tracker Blockfolio secures $11.5M in Series A round
Tue, 16 Oct 2018, 05:20 am UTC
Blockfolio, a cryptocurrency portfolio tracker, has raised $11.5 million in a Series A round of financing led by Pantera Capital.
Founded in 2014, Blockfolio is a crypto portfolio tracking app that aims to deliver price information to crypto enthusiasts on various cryptocurrencies across hundreds of exchanges. In May, it launched “Blockfolio Signal”, which it describes as “a first-of-it’s-kind broadcast channel that connects token teams directly with our millions of users.”
In addition to Pantera Capital, the round also drew support from Bitmex, Huobi, Danhua VC, DCM Ventures, Pathfinder, Abstract Ventures, Refactor Capital, Mayfield Fund, Chapter One Ventures, NKB Group, Global Blockchain Innovative Capital, Block72, and Nirvana Capital. Paul Veradittakit of Pantera Capital will join Blockfolio’s board of directors.
Speaking with Fortune, Blockfolio co-founder and CEO Ed Moncada said, “If we were just a price-tracking application, we wouldn’t be able to raise that kind of money.”
For Moncada, Blockfolio has the potential to go beyond its current role of a market data provider to that of “mediator” for project participants. He envisions a future where cryptocurrency teams would be able to use the app to “solicit feedback from coin holders, enabling investors to propose changes in features and vote on protocol upgrades,” Fortune reported.
According to the official blog post, Blockfolio currently has 90 teams actively broadcasting on Blockfolio Signal, and over 300 teams on the waitlist. Some of the well-known companies in the blockchain universe including Augur, Civic, and Zcash are using the app to blast notifications.
“Our Series A financing will help us leverage our unparalleled reach to continue innovating as a global leader in the space. Most importantly, this investment empowers us to follow our belief that quality data and information should be easily accessible and that Blockfolio should be fully free to use for all,” Blockfolio said.
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