Cryptocurrency data platform Flipside Crypto nets $7.1m in seed funding

Business intelligence platform for cryptocurrency organisations Flipside Crypto has netted $7.1m in its Seed funding round.

Galaxy Digital Ventures was the lead investor, with contributions also coming from Collaborative Fund, CMT Digital and Avon Ventures. Previous backers of Flipside Crypto including True Ventures, Founder Collective, Digital Currency Group, Castle Island and Boston Seed also supplied funds to the round.

These funds will be used to expand the team, augment its data science and analytics capabilities.

Flipside Crypto supplies businesses with analytics tools to generate insights into cryptocurrency user behaviours, developer activities, and financial health. The platform also enables easy extraction and decoding of blockchain data to generate detailed insights.

Information can show customers the impacts of on- and off-chain activities on speculators, holders, miners, stakers and token customers.

Galaxy Digital Ventures head of venture Greg Wasserman 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.”

Last year, Flipside Crypto raised $3.4m in an equity investment from backers including True Ventures, Chernin Group, Resolute Ventures, Boston Seed Capital, Converge, Founder Collective.

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