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Goldman Sachs invests in Coin Metrics

Goldman Sachs invests in Coin Metrics

Goldman Sachs has led a $15 million Series B funding round for crpto financial intelligence player Coin Metrics.

Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, Collab+Currency, Acrew Ventures, Morningside Group, BlockFi and Warburg Serres Investments joined the round.

Coin Metrics provides network data, market data, indexes and network risk technology to institutions touching cryptoassets.

Incorporated in 2018 with market data veteran Tim Rice as co-founding CEO, the firm has seen its index offering adopted by some of the largest names in the cryptoasset ecosystem, including Fidelity Investments, Osprey Funds and BlockFi.

Several new products have also recently been added, including a network risk management offering, and a universal block explorer. The new financing will be used for global expansion and product innovation.

Mathew McDermott, global head, digital assets, Goldman Sachs, who joins the Coin Metrics board, says: "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 and emerging risk management tools."

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