Allium Secures $16.5M to Enhance Blockchain Data Solutions
Allium, a leading blockchain data platform for enterprises, has secured a significant investment to further its mission of providing comprehensive and accessible blockchain data solutions. The company recently announced a $16.5 million Series A funding round led by Theory Ventures, with participation from existing investors Kleiner Perkins and Amplify Partners. This brings Allium’s total capital raised to $21.5 million.
The funding will be used to enhance Allium’s data infrastructure and scale its go-to-market strategy to offer launchpads for financial institutions, payment providers, brokerages, and blockchain ecosystems seeking to embrace digital assets. The company aims to simplify the complex process of analyzing and interacting with blockchain data, making it as accessible and usable as traditional databases for applications and reporting purposes.
Allium’s platform is designed to cater to financial institutions and companies by providing enterprise-grade, quick, and simple blockchain data. The company’s deep expertise in technical outputs of smart contracts, tokens, non-fungible tokens, stablecoins, and other blockchain-based industries enables it to standardize and demystify blockchain systems. This expertise is crucial in tracking digital currency volumes, which require continuous data normalization across numerous blockchain networks and the parsing of thousands of smart contracts.
The company’s suite of data products covers over 40 blockchains and 100 schemas, providing blockchain data wherever and however customers need it. Allium offers two distinct application programming interfaces: the Allium Explorer for data querying and visualization, and the Allium Developer for real-time data ingestion, catering to high-performance applications. This technology supports major FinTech customers, including Visa and Stripe, along with blockchain entities like Uniswap Labs and Phantom.
Recently, Allium partnered with Visa to supply crucial data for the launch of the Visa OnChain Analytics Dashboard. This dashboard is aimed at providing insights into stablecoin usage beyond mere crypto trading activities, helping clients better understand this activity and informing Visa’s work with partners to develop products designed to better serve their clients.
With the new funding, Allium plans to further develop platforms for financial firms to facilitate their entry into the market of digital currencies, virtual assets, and tokens. The company’s mission is to drive trust and transparency in blockchain, helping people understand and build with full confidence. By simplifying the complexities involved in blockchain data analysis, Allium aims to empower its customers to focus on strategic questions, identify investment and growth opportunities, manage business reporting, and power their applications without worrying about the underlying data infrastructure.
The investment from Theory Ventures, led by Tomasz Tunguz, who will join Allium’s board, underscores the growing demand for cryptocurrencies and tokens. As more assets move to blockchains, Allium is positioned to become the company that provides the data necessary to foster broader adoption and additional innovative uses of blockchains and tokens. With its robust and user-friendly platform, Allium is set to play a pivotal role in the burgeoning digital asset space.
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