Coin Metrics Raises $15 Million in Series B Funding

Coin Metrics, a provider of cryptocurrency data and analytics, announced that it has raised $15 million in Series B Funding, which is led by Goldman Sachs​.

The company Coin Metrics provides analytical market data, indexes, and network risk solutions for a myriad of digital currencies like bitcoin (BTC) and ethereum (ETH).

In addition to Goldman Sachs, Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency are also increasing their investment in the company after participating in previous fundraising rounds.

The company mentions that it has "institutionalized their network and market data offerings over the past 18 months, creating a resilient infrastructure to meet the needs of the most discerning organizations". Some of the largest names in the cryptoasset ecosystem, including Fidelity Investments, Osprey Funds and BlockFi have been adopting their index offering, which leverages elements of the market and network data offerings.

Mathew McDermott, Global Head of Digital Assets of Goldman Sachs said, “Data is critical for the mainstream adoption of crypto assets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools.”