Nansen, a blockchain data analytics company, has completed a $75 million Series B funding round led by Accel.
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Nansen, a blockchain data analytics company, has completed a $75 million Series B funding round led by Accel.
Nansen has analyzed billions of on-chain data points, millions of wallet labels, and thousands of applications across major blockchains such as ETH, Polygon, BSC, Fantom, Avalanche, and Celo.
Navigating Web3 tides with focused insights
On-chain data analytics company Nansen has completed a $75 million Series B funding round led by Accel, aimed at helping investors and businesses gain competitive insights into emerging cryptocurrency trends.
- The Nansen platform combines on-chain data with a proprietary database of activity from over 100 million blockchain wallets, delivering real-time and actionable insights about the expanding blockchain ecosystem to investors and financial institutions.
- The investment will accelerate hiring, develop new innovative products for individual and institutional clients, and expand Nansen’s global footprint.
December 16, 2021 — Nansen, a leading on-chain data platform in the blockchain industry, today announced it has closed a $75 million Series B funding round led by Accel. GIC, Andreessen Horowitz (a16z), Tiger Global, SCB 10X, and other prominent venture capital firms and angel investors also participated in the round. The funds will drive Nansen’s next phase of growth and development, including hiring top-tier developers and research analysts, and expanding platform capabilities and multi-chain integrations globally.
Nansen analyzes billions of on-chain data points, millions of wallet labels, and thousands of applications across major blockchains such as ETH, Polygon, BSC, Fantom, Avalanche, and Celo. Leveraging the company’s premium market intelligence and actionable analytics, investors and financial institutions can make more informed decisions in project discovery, due diligence, and trading. It enables easier exploration of complex on-chain data—such as investor fund flows and exchange activities—through a user-friendly experience and streamlined visual dashboards, while also analyzing emerging trends in DeFi, NFTs, and DAOs.
Founded in 2020, Nansen has experienced rapid growth and user adoption, serving both retail users and institutional investors such as Three Arrows Capital, DeFiance Capital, Genesis Block Ventures, Not3Lau Capital, Polychain, YBS Capital, and Acheron Trading. Additionally, leading crypto teams including Axie Infinity, Polygon, and Lido use the Nansen platform, which has achieved over 20x user growth in the past year.
With this latest funding, the company is poised to drive its next stage of global expansion, supported by key investors including Amplify Partners, L1 Digital, Cristobal Conde (Chairman of Fimatix), Skyfall Ventures, Folius Ventures, Old Fashion Research, Adam White (President of Bakkt), Ryan Rabaglia (Libra Capital Ventures), Prabhakar Reddy (Co-founder of FalconX), Anastasia Andrianova (CEO of Akropolis), and Ameet Patel.
This Series B round, led by Accel, comes just six months after Nansen’s Series A. During this period, Nansen’s user base grew by 400%, and the team expanded by over 55 new members across 28 countries. These hires include research analysts and developers to increase the company’s coverage across all major blockchains and better serve the needs of crypto investors and enterprises navigating an increasingly multi-chain landscape. Strong demand underscores that key industry players recognize the importance of timely, relevant data for the blockchain ecosystems Nansen supports.
The newly raised capital will enable Nansen to further scale operations and launch new product lines for broader audiences. Institutional clients will gain programmatic access to market-leading on-chain data via Nansen Query and the new Nansen API. Protocol teams will be able to publish and access on-chain product analytics through the Nansen Ecosystem offering. Retail investors and crypto funds will see significant enhancements to Nansen Standard and Nansen Alpha, including support for more than 10 blockchains.
“2021 has been an inspiring year for us. We’re deeply grateful to our customers for embracing Nansen—this recent funding allows us to serve them even better. Moreover, we can now reach new customer segments and extend the benefits of market-leading on-chain analysis to a wider audience. We are ready to enter a new growth phase, accelerating international expansion, expanding our data capabilities to support a broader blockchain ecosystem, and delivering world-class products to help global investors explore the latest crypto trends and make smarter decisions.”
Andrei Brasoveanu, Partner at Accel, said: “Over the past year, we’ve witnessed explosive growth in crypto activity, including new frontiers like NFTs and DeFi. Given how fragmented transaction data is across projects, exchanges, and chains in this space, Nansen has tremendous potential to become the go-to platform for investors navigating crypto and data, providing a trusted source of truth. Alex, Evgeny, and Lars bring deep expertise in data and crypto, combined with a world-class product and impressive traction since inception—setting the company on an exciting journey ahead.”
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