Ethereum blockchain data startup Blocknative raises $5 million in new funding

Blocknative, an Ethereum-focused project that provides tools for on-network transaction transparency, has raised $5 million in new financing.

According to a Tuesday announcement from the firm, the financing was led by Blockchain Capital. IDEO Colab Ventures, Coinbase Ventures, Industry Ventures and Foundry Group also took part in the round, per the post. Blockchain Capital's Spencer Bogart has also joined the firm's board of directors.

"We are working towards a future in which a crypto-native global population can transact with clarity and confidence," the startup said. "We have an ambitious product roadmap designed to accelerate the arrival of this blockchain-based future, and accordingly we are now growing our engineering, design, and go-to-market teams."

Blocknative offers a data platform for tracking transactions as they occur on the blockchain network, specifically the mempool, where transactions populate before being included in miner blocks. 

In recent weeks, other Ethereum-focused data startups — such as Dune Analytics, Covalent and Nansen — have also raised funding rounds.