Parsec Crypto Analytics Firm Raises $4 Million in Investment Round Led by Uniswap and Billionaire Novogratz’s Galaxy Digital

Last updated:
Author
Jimmy Aki
Author Categories
About Author

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, and Blockonomi, covering news...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Source: Parsec

Pro on-chain DeFi and NFT analytics platform Parsec has secured $4 million in an investment round. 

Sharing the news on X, the crypto-facing analytics platform revealed that the investment round was led by billionaire pro-crypto investor Mike Novogratz’s Galaxy Digital.

Other key investors include the popular decentralized exchange (DEX) and automated market maker (AMM) Uniswap. In addition, Robot Ventures, CMT Digital, and several other investors. 

The Parsec platform also mentioned Will Price, Rice Maximalist, and Freddie Framer as part of its angel investor teams. 

Since launching in 2020, Parsec Finance has focused on providing crypto-facing institutions with transparent and practical data they need to make decisions. 

The platform enables crypto degens and institutions to access verifiable information across multiple blockchain networks and layer-2 scaling solutions as liquidity rapidly moves. 

This mission has drawn the attention of several crypto investment heavyweights like Polygon Capital and Galaxy Digital. 

The on-chain DeFi and NFT analytics firm raised $1.25 million in a pre-seed funding round in 2021. This recent raise is its second ever.

CEO and founder Will Sheehan explained that this new capital raise is focused on expanding the protocol’s user base.

This ideology is already in play as the Parsec Finance team announced the launch of its new Teams feature.

This functionality allows individuals working in an organization to use shared resources like private address labels, layouts, and the Parsec application programming interface (API). 

Providing more information on the API, Parsec said it rolls up all the curated data into a Python software development kit (SDK) for data teams to retrieve them easily.

Raise Focused on Product and Team Building

Speaking on the recent milestone, Sheehan stated that Parsec Finance has focused more on providing real value to the DeFi and decentralized economy rather than rushing to the market, hence its slow start.

However, he noted that this recent raise will be crucial in accelerating the blockchain analytics platform’s plans. 

According to Sheehan, Parsec Finance will aim to expand its eight-man team to roll out more on-chain tools for users to tap into.

Speaking on the platform’s unique selling proposition (USP), Parsec’s Sheehan said its customizable and modular dashboard has seen it compete favorably with industry giants like Nansen and Messari. 

The DeFi and NFT analytics service provider has 110 customizable components rendered in real-time on the dashboards as visualizations. 

These easy-to-under infographics make it easy for users to act quickly on the information curated. 

Parsec Finance currently offers its on-chain analytics services on Ethereum, Arbitrum, Optimism, Base, zkSync, Avalanche, Canto, and Mantle. 

According to its founder, the protocol is gearing up to expand its on-chain presence in at least five to 10 blockchain networks. Polygon, Scroll, Monad, dYdX, and Berachain are among the targeted blockchains for this expansion.

More Articles

Bitcoin News
Osprey Funds Appeals Court Decision Favoring Grayscale in $2M Bitcoin Fund Case
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-11 07:45:25
Price Analysis
Bitcoin Just Bagged a $742M Boost—Is a $100K Comeback Next?
Arslan Butt
Arslan Butt
2025-02-11 07:31:50
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors