The rise of crypto analytics: Data provider The TIE valued at $100M following Series A

Published at: March 21, 2022

Digital asset analytics provider The TIE has closed a strategic investment round backed by some of blockchain’s most prominent investors, underscoring heightened demand for crypto data and software services. 

The TIE raised $9 million in Series A funding at a valuation of $100 million, making it one of the largest crypto analytics services in the market. The funding round was led by Blizzard, an Avalanche-focused investment fund, with additional participation from executives at Golden Tree Asset Management, Nexo, Gemini, Frontier Fund, Republic Capital, Hudson River Trading and New York Digital Investment Group, better known as NYDIG.

The TIE said the new capital injection will be used to further scale its product development and increase in-house capacity. Nearly 100 crypto companies currently use the company’s services.

Venture capital fell in love with the blockchain in 2021, with a new @CBinsights report showing a 713% increase in funding. https://t.co/6n0RGLzN1o

— Cointelegraph (@Cointelegraph) February 5, 2022

The TIE’s product suite includes the SigDev Terminal, a customizable data analytics and news platform used by leading hedge funds and financial services firms, as well as by media companies including Cointelegraph. The company also houses Token Labs, a service to help token issuers make more informed data-driven decisions across their business.

The TIE also provides the sentiment analysis and multiple other datasets that power the Cointelegraph Markets Pro VORTECS™ Score, a real-time algorithmic rating that helps traders understand the current health of the market for a given digital asset.

The company announced that Ava Labs president John Wu will join its board of directors. Wu said that “robust data and workflow solutions” are essential to institutional investors, implying that such data services in crypto could hasten adoption within legacy finance.

Series A is one of the earliest stages in the capital-raising process and is used by established startups to further optimize their product offerings. Crypto startups drew record interest from the venture capital community in 2021, with more than $25 billion flowing to such companies across various funding rounds. As Cointelegraph reported, venture capital funding grew over 700% between 2020 and 2021.

Related: Crypto quant firm Gauntlet valued at $1B following Series B

Data terminals and market analytics are routinely used by investment professionals to trade financial assets, monitor information and optimize user workflow. As the crypto industry continues to attract institutional capital, the need for advanced analytics is becoming more important.

Joshua Frank, The TIE’s co-founder and CEO, confirmed to Cointelegraph that his firm is servicing many hedge funds that have either dabbled in or made significant strides in the digital asset market. “Just like liquidity in cryptocurrency markets, information within the space is fragmented,” Frank said in a written statement. “Institutional investors are being forced to use 20 different websites and to spend countless hours scrolling through Twitter and Discord just to stay on top of the market.”

We have crypto TikTok data, let us know if you want a demo.Also @eddylazzarin you might be interested pic.twitter.com/aEctgzzOGJ

— The TIE (@TheTIEIO) March 15, 2022

“Our most significant client base is the buy side and we are primarily working with the front-office,” he said.

Tags
Business
Funding
Venture Capital
Data
Related Posts
SubQuery raises $9M for Polkadot data protocol
Decentralized data aggregator SubQuery has concluded a $9 million funding round to build Polkadot’s first data aggregation layer, a move that could strengthen data indexing for the emerging interoperability network. The investment funds will be used to continue building SubQuery’s data indexing infrastructure for all Polkadot and Kusama applications, the company announced Wednesday. SubQuery also announced the investment would help it expand its technical abilities and support the open-sourcing of its software. This investment round was co-led by Arrington XRP Capital, Digital Currency Group and Stratos Technologies with additional participation from Hypersphere Ventures, NGC Ventures, Wintermute and Skynet Trading. Previously, …
Decentralization / Sept. 8, 2021
Blockchain startups grow as global VC funding generated $25.2B in 2021
Last year was impressive for blockchain startups, as research from CB Insights found that venture capital funding reached new heights during every quarter of 2021. According to CB Insights’ “State Of Blockchain 2021” report, $25.2 billion worth of venture capital funding went to global blockchain startups last year, demonstrating a 713% increase from $3.1 billion in 2020. The report also found that the United States led the greatest amount of funding deals in Q4 of last year, generating $6.26 billion for 157 deals. The document notes that global growth was driven by increasing consumer and institutional demand for crypto-related products …
Adoption / Feb. 4, 2022
Galaxy Interactive raises another $325M fund aimed at metaverse and next-gen games
Galaxy Interactive, a venture capital firm focused on next-generation interactive technology, has announced it has raised $325 million for its second fund from 70 different investors. The fund is focused on virtual and augmented reality, artificial intelligence and blockchain-based games. In a Tuesday announcement, Galaxy Digital, the majority owner of Galaxy Interactive, stated that $150 million from the fund has already been allocated to new portfolio companies, including Republic, 1047 Games, Elodie, Roar, Art Blocks and Masterworks, with other additional investments to be announced in coming months. Established in 2018 by general partners Sam Englebardt and Richard Kim, the company …
Technology / Oct. 20, 2021
Report: ICO Fundraising Plummeted 95% Year-Over-Year in 2019
A report published by research firm CB Insights has found that equity funding has dramatically overtaken initial coin offerings (ICOs) as the dominant means of finance in the blockchain space. While the largely unregulated ICO boom of 2018 raised $7.8 billion, initial coin offering funding fell more than 95% to raise $371 million in 2019. By contrast, equity funding raised $2.8 billion last year. The report also notes the rise of decentralized finance (DeFi), noting that there are currently more than $1 billion in assets on DeFi platforms — up from $300 million as of January 2019. Crypto firms are …
Decentralization / March 23, 2020
Polygon raises $450M in Sequoia-led funding round
Layer-2 scaling solution Polygon has raised $450 million in a funding round that was backed by some of blockchain’s biggest venture funds — offering further evidence that major investors are looking to support the future of Web3 development. The investment round was led by Sequoia Capital India with participation from more than 40 venture capital funds, including SoftBank Vision Fund 2, Galaxy Digital, Tiger Global and Republic Capital. Billionaire investor Kevin O’Leary also participated in the raise. Polygon will use the funding to expand its scaling solutions, which includes Polygon PoS, Polygon Edge and Polygon Avail, and support mainstream adoption …
Business / Feb. 7, 2022