Flipside Crypto Raises $7.1 Million in Venture Funding
A business intelligence firm servicing cryptocurrency and blockchain organizations, Flipside Crypto, announced today that it has raised $7.1 million in a Series Seed Prime financing. The company is now valued at $32.1 million.
The financing round was led by Galaxy Digital Ventures and Collaborative Fund, CMT Digital and Avon Ventures, a venture capital fund affiliated with FMR LLC all participated. Past investors like True Ventures, Founder Collective, Digital Currency Group, Castle Island and Boston Seed also participated in the financing round. The capital will be used to expand the team and augment Flipside Crypto’s data science and analytics capabilities designed to help cryptocurrency organizations grow.
What Dave Balter Said
Dave Balter, CEO of Flipside Crypto said: “Earlier this year, sophisticated cryptocurrency organizations began realizing their technical visions, and now have moved to operating more like other types of businesses,”“As this market matures, so does the requirement to understand customers and revenue drivers, and Flipside’s solutions are uniquely designed to aid cryptocurrency and blockchain businesses understand how to grow. We couldn’t be happier to add Galaxy Digital Ventures, Collaborative Fund, CMT Digital and Avon Ventures as investment partners, supporting our vision and playing a key role in helping the cryptocurrency industry to blossom.”
Flipside’s ChainWalker Blockchain Parsing Service makes possible the easy extraction and decoding of blockchain data to provide unparalleled insights. Chainwalking provides customers with in-depth understanding of the impacts of on- and off-chain activities on speculators, holders, miners, stakers and token customers. It also provides capacity to understand how these activities directly influence price.
Greg Wasserman, Head of Venture at Galaxy Digital Ventures said: “Blockchains, the organizations that support them, and the applications that build on them are first and foremost businesses that need customers and revenue to succeed,” “There is a strong demand for analytics that help these companies tie off-chain activities to on-chain results and price, which is exactly what Flipside provides. We’re thrilled to partner with Dave, Jim, Eric, and the rest of the team to execute on this powerful vision.”