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Crypto data provider Messari has raised $4 million in the latest funding round led by Uncork Capital. As part of the investment, Uncork’s founder Jeff Clavier will join Messari’s board of directors.
The round drew support from existing investors Anthemis Group, Blockchain Capital, CoinFund, Danhua Capital, Fabric Ventures, Fenbushi Capital, Semantic Ventures, and Underscore VC, as well as new investors including Coinbase Ventures and Balaji Srinivasan, former a16z partner & Coinbase CTO.
Founded in 2018, New York-based Messari aims to bring data transparency to the emerging token ecosystem by building an open data library for blockchain projects and cryptoassets. It offers investment products including registry and data analytics via its Messari Pro interface, an API service, CoinDesk reported.
The company says that around 60 projects and a number of exchanges are utilizing its data.
Messari co-founder and CEO Ryan Selkis told CoinDesk that “one of the industry’s toughest problems” is the “coordination challenges of self-regulating an emerging asset class and providing accurate, timely data to investors with diverse compliance requirements.”
In its official announcement, Messari said that it will use the fresh funding to accelerate the expansion of Transparency Registry, and evolve Messari Pro research and data analytics beyond beta.
“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,” the statement read.
Messari further said that it has launched a wide range of compliance tools and an enterprise API aimed at serving the global market of funds, exchanges, and brokers investing in crypto assets. This includes an asset monitoring service for compliance teams, a more accurate, proprietary “circulating supply” data feed for index managers, and the Messari Pro beta, a suite of market intelligence tools for professional investors.
“Ryan and the team at Messari are building critically needed infrastructure that is currently lacking in the crypto ecosystem. 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,” said Clavier.
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