Crypto Asset

Goldman Sachs leads $15m investment round in Coin Metrics

Coin Metrics has raised $15 million in a Series B financing, led by Goldman Sachs, with Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency also increasing their investment.

Other existing shareholders in the provider of crypto financial intelligence include Acrew Ventures, Morningside Group, BlockFi, and Warburg Serres Investments.

Mathew McDermott, Managing Director at Goldman Sachs, and head of their blockchain and crypto expansion efforts will join Coin Metrics’ Board of Directors.

“Marianna Lopert-Schaye, in Firmwide Strategy at Goldman Sachs”Data is critical for the mainstream adoption of cryptoassets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights andemerging risk management tools. Coin Metrics is at the forefront of innovation and institutionalization in the digital asset markets. We are excited to be leading their Series B, thereby enabling their growth and supporting their mission to be the leading provider of data-driven market insights and intelligence for institutions in crypto”, McDermott said.

Goldman Sachs has most recently saw its Head of Digital Asset Markets depart to Talos, where he is now Head of Strategy. Justin Schmidt led the digital asset markets department since 2018 and spearheaded the company’s crypto trading desk in global markets and overall digital asset strategy.

Coin Metrics provides network data, market data, indexes, and network risk solutions for the trading industry and this Series B round will accelerate the company’s global expansion, enable further product innovation, and allow existing offerings to touch even more crypto asset networks and markets.

The institutionalization of its network and market data offerings over the past 18 months has created a resilient infrastructure to meet the needs of the most discerning organizations.

Their index offering has been adopted by Fidelity Investments, Osprey Funds, and BlockFi, among others. Coin Metrics has recently launched a network risk management offering, FARUM, and a universal block explorer, ATLAS, both of which leverage the infrastructure of the existing data business.

Tim Rice, co-founder and CEO of Coin Metrics, commented: “FARUM and ATLAS are perfect complements to our network and market data products. The tremendous interest we are seeing in these offerings reinforces the value of on-chain data to institutions engaging in cryptoassets. I couldn’t be more proud of what the team has built over the past 12 months. Our data is clearly on a path to becoming an integral part of the infrastructure for the future of finance.”

Coin Metrics makes efforts to build a world-class team composed by both cryptonative talent and veterans of the traditional financial services and data industries.

Goldman Sachs is making new efforts within the crypto space as the investment bank has recently decided to reopen its cryptocurrency trading desk.