Nansen raises $75m in bid to fuel and scale new product development

Blockchain data analytics platform Nansen has announced a $75 million Series B round led by an array of major crypto investors.

The $75m in funding will be used by Nansen to fuel its next phases of growth and development – starting with the hire of top-tier developer talent and research analysts.

Alongside hiring new talent, the funds will also be used to aid in the development of “new innovative product offerings” for both retail and institutional customers and to expand Nansen’s “features and multichain integrations at a global scale”.

The raise, which was led by Accel, included investment from GIC, Andreessen Horowitz (a16z), Tiger Global, SCB 10X and a selection of “prominent VCs and angel investors”.

Following Nansen‘s $12m Series A round in June, the platform has grown its user base “by over 400%” and has expanded its global team by hiring “55 new team members across 28 countries”.

Alongside its focus on scaling, Nansen will offer institutional customers access to market-leading on-chain data via Nansen Query and a new Nansen API option.

In addition, individual investors and crypto funds will see major improvements to both Nansen products – Nansen Standard and Nansen Alpha – alongside further support for more than 10 blockchains.

Nansen’s platform combines on-chain data with a database of activity across 100m+ blockchain wallets to provide real-time insights for investors and institutions on leading blockchains such as Ethereum, Binance Smart Chain, Fantom and Avalanche.

“2021 has been an inspirational year for us. We’re grateful for how much our customers love Nansen, and with this latest round we can serve them even better,” said Alex Svanevik, co-founder and CEO at Nansen.

“We’re ready for a new phase of growth, accelerating our international expansion, scaling up our data capabilities to support the wider blockchain ecosystem, and providing global investors with a world-class product to explore the latest crypto trends and make more informed decisions”.