Nansen Raises $12 Million in Series a Funding LED by Andreessen Horowitz
Plans to Establish Nansen As the #1 Blockchain Analytics Platform for Smart Money Tracing in DeFi
Nansen, an analytics platform for blockchain that unifies on-chain data with disparate market signals, announced $12 million in Series A funding led by Andreessen Horowitz (a16z). Other participating investors include Skyfall Ventures, Coinbase Ventures, imToken Ventures, Mechanism Capital and QCP Capital.
Founded in 2020, Nansen analyses billions of on-chain data points, millions of wallet labels and thousands of entities on Ethereum, to provide quality market intelligence and actionable analytics, helping investors and financial institutions make more informed decisions when it comes to project discovery, due diligence, and trading.
The funds raised in this round will go towards:
- Talent, through hiring and acquisitions
- Its data platform, pushing the envelope as the #1 blockchain analytics platform
- Growing the community of crypto investors and traders, all the way up to the top hedge funds and VC funds.
- Expanding the service to additional blockchains and layer 2 solutions, including Polygon, Optimism, Arbitrum, and more.
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“As a leading investor in both crypto and tech companies more broadly, a16z is an ideal strategic partner for Nansen. We’re proud to onboard all of our Series A investors to the Nansen expedition,” said Alex Svanevik, CEO of Nansen. “The capital raised in this round will allow us to level up our competitive intelligence, as we become the #1 blockchain analytics platform and help make the future of finance a reality.”
“As participation in the first truly open global financial markets grows, traders and collectors of all kinds — retail novices, institutional professionals, independent experts, and more — will want to understand what the smart money is doing across all blockchains,” said Chris Dixon, General Partner at Andreessen Horowitz. “We’re thrilled to support them as they build DeFi-native analytics products that offer insights for a new generation of investors at an important moment for crypto.”
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