Coinbase Ventures and Winklevoss Capital were some of the investors that supported Messari’s funding round

Crypto data analytics platform Messari announced yesterday it had completed a Series A funding round in which it raised $21 million. The round was led by Point72 Ventures and saw the participation of previous investors Underscore VC, Uncork Capital and Coinbase Ventures.

The market intelligence company plans use the new funding in order to expand its research and engineering team and offer more products. It also plans to globalize its Pro and Enterprise product lines.

Messari CEO Ryan Selkis stated, “Thousands and crypto enterprises and token projects already depend on our products to conduct industry diligence, participate in the new crypto economy, and use our services. This new funding reinforces the value we have created for our early crypto-native customers and highlights the opportunity we have to solve some of crypto’s most challenging information and compliance problems for new institutional entrants as well.”

Selkis was previously responsible for the restructuring of CoinDesk. He also managed the seed investing activity at Digital Currency Group. Before co-founding Messari, he founded it three years ago. The Messari board of directors now includes Point72 Ventures partner Adam Carson.

He said, “ While investor participation has increased exponentially in the crypto sector over the last three years, the current crypto research tools and analysis tools still lack the sophisticated signals or data that more experienced investors require. Messari is filling that much-needed space, creating a central access point for reliable information for the entire crypto ecosystem.”

Messari’s market intelligence products are already used by industry leaders such as Chainalysis, Coinbase, BlockTower and Gemini. The popularity of crypto has led institutional investors and decentralised autonomous organizations (DAOs), to use Messari’s research data and compliance products.

The Series A was also backed new investors like Winklevoss Capital and Kraken Ventures. Angel investors include Diogo Monica, Anchorage co-founder, and Thomson Reuters CEO Tom Glocer.

The investment will fund Messari’s annual Mainnet 2021 Summit and the development and distribution of its educational and community research content. The investment will allow Messari to increase its offerings for crypto enterprises, including its new crypto asset research tool, Messari Asset Coverage Support, (MACS).