Goldman Sachs leads $15 million Series B funding round for Coin Metrics

Crypto data firm Coin Metrics has raised $15 million in a Series B funding round led by Wall Street megabank Goldman Sachs.

In addition to Goldman, the investment round also drew support from Acrew Ventures, BlockFi, Morningside Group and Warburg Serres Investments. Coin Metrics said in a press statement that existing investors Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital and Collab+Currency boosted their stakes in the firm.

"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," Mathew McDermott, Goldman's global head of digital assets, said in a statement.

As part of the funding deal, McDermott has also joined Coin Metrics' board of directors.

As The Block's John Dantoni noted in a research piece last month, the crypto/data analytics space drew $116 million across 13 deals during the first quarter of 2021. The largest of those rounds was by Chainalysis, which raised $100 million in a Series D funding round.