Blockchain Data Analytics Platform Nansen Closes $75M Series B Round

The company analyzes billions of on-chain data points and thousands of entities on blockchains like Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche and Celo

article-image

Source: Nansen

share

key takeaways

  • Round comes six months after its $12 million Series A, since then the platform’s user base has risen over 400%
  • Nansen expects 10% of its annual recurring revenue growth to be generated by its institutional segment this quarter, as its use cases grow

Blockchain data analytics platform Nansen raised $75 million in a Series B round, the company’s CEO and co-founder Alex Svanevik said to Blockworks. 

The round was led by Accel, GIC, Andreessen Horowitz (a16z), Tiger Global, SCB and 10X. Other angel investors and venture capitalists also participated in the round. 

This Series B comes six months after it raised $12 million for its Series A in late June. Within that time frame, the company has expanded with 55 new employees across 28 countries and its user base has increased over 400%. In total, Nansen has raised $88.2 million, Svanevik said.

“To accelerate Nansen’s next phase of growth, we intend to use the fresh capital to hire more team members across product, engineering, operations, finance, sales, and marketing,” Svanevik said. “Furthermore, we are now in a position to make strategic acquisitions that are complementary to Nansen,” he added. The funding will also be used to expand the platform’s features and multichain integrations internationally.

Its platform integrates on-chain data with a database of activity and movement across 100 million blockchain wallets, so that users can monitor real-time insights and transactions. Nansen also analyzes billions of on-chain data points and thousands of entities on blockchains like Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche and Celo. 

Alex Svanevik and Evgeny Medvedev, co-founders of Nansen 

The one-year-old company has experienced rapid growth and user adoptions among retail investors and institutional investors including Three Arrows Capital, DeFiance Capital, Genesis Block Ventures, Not3Lau Capital, Polychain, YBS Capital and Acheron Trading. 

Additionally, the platform is used by crypto teams at Axie Infinity, Polygon, and Lido, and has had over 20 times increase in subscribers over the last year, it said. 

“95% of Nansen users were individual innvestors before our Series A and the creation of an institutional team at the end of the summer,” Alexandre Caillol, the company’s head of institutional sales said to Blockworks.

“During Q4 2021, the team has met 100+ institutions from crypto-native [or crypto-curious] asset managers and banks, to DEXes and NFT-syndicated investment communities,” Caillol added. 

During this current quarter, Nansen expects 10% of its annual recurring revenue growth to be generated by its institutional segment as its use cases grow beyond being a tool for “retail yield farmers and legendary NFT collectors,” Caillol said. 

Going into 2022, Svanevik said the company plans to introduce new product lines such as Nansen API and Nansen Query, which will allow institutional clients to access its on-chain data programmatically. 

“Nansen is building institutional-grade tools to support the future of finance, and we’re hiring actively for it,” Caillol said.


Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (4).png

Research

Wormhole Settlement allows for a highly scalable liquidity venue to fill user intents into a multichain, multi-VM future. By concentrating solvers’ balance sheets on Solana, transaction costs associated with solvers rebalancing inventory across destinations are eliminated. With the ability to settle bridging, swapping, and arbitrary interactions, without the costs and frictions of fragmenting solver liquidity, Wormhole Settlement has the opportunity to settle a large share of volumes in the crosschain interoperability market with a beneficial framework for both users and solvers. 

article-image

Sovereign states aren’t coming — they’re already here

article-image

Dinocoins like XRP and ADA are getting more attention, and it’s not just because of President Trump

article-image

Anthony Pompliano looks for folks who are running away from something rather than towards it

article-image

The Solana world has worked itself into a frenzy over SIMD-0228

article-image

Industry watchers weigh in on Trump’s Thursday night executive order

article-image

The new game lets you embark on quests, collect loot and socialize