Blockchain analytics firm Nansen closes $12M funding round led by Andreessen Horowitz

The $12 million Series A funding round included participation from Skyfall Ventures, Coinbase Ventures, imToken Ventures, QCP Capital, and Mechanism Capital.

Blockchain analytics firm Nansen closes $12M funding round led by Andreessen Horowitz

Nansen stated that the funding will be used to hire additional talent, and to expand its analytics platform along with providing additional services to networks like Polygon and Binance Smart Chain, among others.

As a blockchain analytics platform, Nansen analyzes the activity of over 90 million Ethereum wallets. The platform integrates massive data sets and translates them into dashboards that allow users to gauge actionable insights in the DeFi market.

A general partner at Andreessen Horowitz, Chris Dixon said:

"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.”

Andreessen Horowitz is considering blockchain and cryptocurrency as major growth drivers for the future and has specifically allocated capital accordingly. The venture firm recently announced a $2.2 billion fund dedicated to crypto startups. That’s in addition to the billions in strategic investments made so far. 

Venture funds have poured billions in blockchain industry this year alone, funding platforms from exchanges to liquidity aggregators and up to infrastructure developers. 

Read: Polygon launches a general-purpose blockchain dubbed Avail

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