Heron Investments

Messari to Raise $35 Million at Next Valuation

A cryptocurrency analytic firm, Messari, has said it is planning another fundraiser. The firm intends to raise $35 million during a $300 million valuation.

The Urge to Raise More Capital

The crypto start-up says it needs to raise more capital at its next valuation. Messari has already pitched to a number of investors as said by sources close to the issue. It was one of the sources who revealed the amount planned to be raised at $35 million.

Messari had a series A fundraiser in August 2021 where it successfully raised $21 million. The fundraiser was led by Point72 Ventures, which is the venture’s wing of the hedge fund that has up to $24 billion in assets under management.

If Messari successfully runs the fundraiser, then its valuation would become triple where it currently is. Messari’s CEO and Co-founder, Ryan Selki, did not respond to reporters on questions bordering on the fundraiser. He only gave little insight via his Twitter page.

Selkis said Messari is keeping up with its mission to build the largest crypto subscription information firm. He said the firm is also getting ready to make a product available on Mainnet by September.

Tracking Investors is Probably Now Easier

He also said the company has scaled to have 130 people on its zero net. It is also employing the services of developers that will build transparency and data tools that are at institutional levels to the cryptocurrency market.

The funds that the firm’s Series A $21 million fundraiser went into broadening its footprint on the institutional front. Part of it was for increasing the scale of a tool that aids institutional users with onboarding, support, and integration for any new crypto tokens.

Alameda Capital, Kraken Ventures, as well as CMS Venture, were all part of the Series A fundraiser. The news of the latest planned fundraising filtered in a week after Messari bought Dove Metrics, a crypto fundraiser database.

Dove Metrics followed up on thousands of fundraising rounds, investors, acquisitions, as well as mergers. Messari’s Vice President of markets, Eric Turner, said acquiring Dove Metrics will let the firm offer new sets of data and tools. These will let users be atop trends in the industry and monitor leading projects as well as technologies backed by investors.