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Digital Assets Data, a fintech and data company building enterprise-grade software and data feeds for cryptocurrency, has secured another $3.2 million in equity funding.
As per a press release, the investment round was led by venture capital firm North Island, Silver Lake co-founder Glenn Hutchins, and his son James Hutchins. Previous investors Morgan Creek Digital, Vestigo Ventures, Digital Currency Group, to name a few also participated.
The startup reportedly offers tools to allow asset managers and other market participants to analyze crypto assets on-chain, market, reference, and customer data from various sources. Launched in March, the platform aims to help customers compound their knowledge about the digital asset marketplace.
James has reportedly joined the company’s board of directors and commented that Digital Assets Data has created a “full stack, institutional-quality data platform that is capable of serving all types of market participants.”
“We believe that the combination of full-stack flexibility and high-quality data sets differentiate Digital Assets Data from all other providers,” he added.
In an interview with The Block, Mike Alfred, Digital Assets Data Co-Founder and CEO, said that the proceeds will be used to expand its team of engineers and data scientists to enhance its cryptocurrency data platform, with a goal to make the company “the primary place” for crypto businesses.”
“Data is the heart of any investment process and without an institutional-quality data platform, it is very difficult to allocate significant resources to any asset class,” Alfred told the news outlet.
Last May, Digital Assets Data also announced the launch of its software platform alongside a $6 million seed funding round.
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