Flipside Crypto Secures Funding to Advance Blockchain Analytics Platform

Data analytics startup Flipside Crypto has secured $7.1 million in funding led by Galaxy Digital, bringing its total raised to $11.6 million. The startup aims to utilize sophisticated tools to analyze blockchain data and identify behavioral patterns that impact asset prices. With a clientele of over 75 organizations, Flipside seeks to provide real-time insights to aid business decisions and capture the growing demand for price-driven analytics in the cryptocurrency industry.

Data Analytics Startup Flipside Crypto Secures Funding to Enhance Blockchain Intelligence

New York, NY - July 15, 2020 - Flipside Crypto, a leading data analytics startup in the blockchain industry, has successfully secured a fresh funding round led by Galaxy Digital, a prominent digital asset management firm. This latest funding injection further solidifies Flipside Crypto's position as a key player in the rapidly evolving field of blockchain data analytics.

Significant Investment to Fuel Growth

The $7.1 million funding round, which also included participation from existing investors such as Castle Island Ventures, brings Flipside Crypto's total funding to over $11.6 million since its inception in 2017. This significant investment will enable the startup to accelerate its growth trajectory, expand its team, and enhance its service offerings.

Industry Expertise Backing the Venture

Galaxy Digital, the leading investment firm spearheaded by veteran hedge fund manager and former runway model Mike Novogratz, serves as the primary investor in this funding round. Galaxy Digital's deep understanding of the digital asset market and its recognition of Flipside Crypto's capabilities underscore the growing importance of data analytics in the blockchain ecosystem.

Flipside Crypto's Value Proposition

Flipside Crypto empowers businesses operating in the blockchain space with sophisticated tools that analyze behavioral patterns on top of blockchain data. This enables clients to decipher specific stakeholder activities and their impact on asset prices. The startup's comprehensive analytical capabilities provide crucial insights that guide business decisions and drive growth.

Customer-Centric Approach and Industry Adoption

Despite attracting over 75 organizations to its free Flipside Analytics suite, Flipside Crypto's paid customer base currently stands at a few dozen, with Algorand being a notable example. For these clients, understanding metrics such as token staking behavior and voter patterns across networks enables them to stay ahead of the competition and make informed decisions.

Blockchain Insights Drive Market Value

Flipside Crypto's analysis of over 520 cryptocurrencies has revealed that market perception regarding a network or asset's future potential has a more significant influence on its value than its actual usage. This finding highlights the unique dynamic within the blockchain industry, where price movements respond in real time to fundamental developments.

Analytics as a Foundation for Long-Term Growth

Flipside Crypto's investors recognize the pivotal role of data analytics in driving long-term growth as blockchain projects mature into mainstream businesses. By providing valuable insights into blockchain networks and assets, Flipside Crypto is well-positioned to support the growth of the entire industry.

Collaboration and Competition in the Analytics Landscape

The leading blockchain analytics firms often share overlapping investors, reflecting the interconnected nature of the industry. However, Flipside Crypto and Coin Metrics, another prominent analytics firm co-founded by Castle Island Ventures' Nic Carter, differentiate themselves through their distinct target audiences: Flipside Crypto focuses on serving blockchain projects, while Coin Metrics caters to investors evaluating those networks and assets.

Unveiling the Complexity of Blockchain Data

Flipside Crypto's CEO, Dave Balter, emphasizes the immense value of detailed insights into protocol tweaks and their impact on network economics for those designing blockchain systems. The startup's mission is to unlock the data-rich potential of blockchain technology and provide actionable intelligence for its clients.

Teamwork and Innovation Fuel the Future

The team at Flipside Crypto, consisting of blockchain enthusiasts and data science experts, is dedicated to pushing the boundaries of blockchain analytics. The startup's commitment to innovation and collaboration positions it as a driving force in the evolution of the blockchain ecosystem.

About Flipside Crypto

Flipside Crypto is a data analytics startup that provides businesses operating in the blockchain space with sophisticated tools to analyze behavioral patterns on top of blockchain data. The startup's mission is to empower clients with actionable intelligence that drives growth and decision-making.

About Galaxy Digital

Galaxy Digital is a leading digital asset management firm that provides a comprehensive suite of financial products and services to institutions and individuals. The firm is headed by veteran hedge fund manager and former runway model Mike Novogratz.

Contact Information

For media inquiries, please contact:

Flipside Crypto
media@flipsidecrypto.com

Galaxy Digital
press@galaxydigital.io