Allium Raises $16.5 Million Series A Led by Theory Ventures to Deliver Enterprise-grade Blockchain Data Solutions
18 Julio 2024 - 7:00AM
Business Wire
Allium, the leading blockchain data platform for enterprises,
today announced that it raised a $16.5 million Series A funding
round led by Theory Ventures with participation from seed investors
Kleiner Perkins and Amplify Partners. Tomasz Tunguz, Founder of
Theory Ventures, will join the board as part of its investment.
This brings the company’s total capital raised to $21.5
million.
Allium provides enterprise-grade, quick, and simple blockchain
data for leading institutions and companies like Visa, Stripe,
Uniswap Foundation, and Phantom to easily answer strategic
questions, identify investment and growth opportunities, manage
business reporting, and power their applications.
From the beginning of 2019 to May 2024, the amount of digital
dollars on blockchains via USDT and USDC alone grew from under $500
million to over $145 billion. With this increase in blockchain
adoption and the proliferation of different blockchain networks,
the volume of data has surged exponentially. The sheer amount and
complexity of blockchain data today makes it tedious and
technically challenging to understand and report blockchain
activity, invest in blockchain opportunities, and build blockchain
products. Allium solves this through its unparalleled data quality
and delivery.
Allium recently demonstrated this commitment to trust and
transparency in its recent provisioning of relevant data to Visa
for Visa's launch of the Visa Onchain Analytics Dashboard.
"At Visa, we seek to both better inform our clients of how
people and businesses are using stablecoins for transactions that
may be outside of crypto trading activity, and also help inform our
work with partners to develop products designed to better serve our
clients,” said Cuy Sheffield, Head of Visa Crypto. “The Visa
OnChain Analytics Dashboard is designed to enable our clients to
better understand this activity, and we look forward to continuing
to iterate on our dashboard and metrics with partners like Allium
to help our clients as they explore use cases and opportunities for
stablecoins in the payment ecosystem."
Allium plans to use their new Series A capital to invest in data
infrastructure and scale its GTM motion to offer launchpads for
financial institutions seeking to embrace digital assets, as well
as payment providers, brokerages, and the blockchain ecosystems for
builders.
“Allium exists to drive trust and transparency in blockchain, to
help people understand and build with full confidence,” said Ethan
Chan, CEO and Co-Founder of Allium. “Currently, something as
essential as accurately tracking digital currency volumes requires
continually normalizing data across 40+ blockchain networks and
parsing thousands of smart contracts, equating to petabytes of
data. Our goal is that our customers never need to worry about any
of this, and can instead focus on asking great questions and
building great things.”
With coverage of 40+ blockchains and over 100 schemas, Allium’s
suite of data products quickly and easily provide high-quality
blockchain data wherever and however customers need it by
developing two APIs: Allium Explorer and Allium Developer. Allium
Explorer provides intuitive query and visualization interfaces for
data discovery, investment and market research, financial
accounting and auditing, while Allium Developer provides real-time
APIs and data ingestion tools to power high-performance
applications and workflows.
For maximum convenience and flexibility, Allium also offers
tailored enterprise solutions according to customers’ desired
blockchains, schemas, freshness, and delivery methods. For
instance, leading blockchain wallet provider Phantom leverages
Allium’s data platform for fetching fresh transactions and metrics
to serve millions of requests in real time.
“The demand for cryptocurrencies and tokens has just started.
Allium powers many of the most popular applications touching this
burgeoning asset class: payment providers, brokerages, and the
blockchain ecosystems for builders - just to start,” said Tomasz
Tunguz, Founder of Theory Ventures. “As more assets move to
blockchains, Allium will become the company that provides the data
necessary to foster broader adoption and additional innovative uses
of blockchains and tokens.”
"As crypto adoption continues to accelerate, developers are
running into significant challenges ensuring their applications
have reliable access to fresh data. Given how complex and
fast-changing this data is, building even the most simple analytics
application is far from easy,” said Bucky Moore, Partner at Kleiner
Perkins and Allium Board Observer. “Allium's team has deep
expertise building and operating real-time data pipelines, and has
leveraged that expertise to build what is now the industry-leading
real-time blockchain data platform for enterprises."
Organizations looking to adopt an accurate, fast, and simple
blockchain data platform can reach out to Allium for a demo at
www.allium.so/contact. Allium is also growing its team across
engineering, product, and sales. Visit
https://jobs.ashbyhq.com/allium for more information.
ABOUT ALLIUM
Allium is the fastest and most comprehensive blockchain data
platform for enterprises, drastically simplifying blockchain
activity by offering a robust and user-friendly platform with easy
access to comprehensive, real-time blockchain data in accessible
formats. Leading financial enterprises including Visa, Stripe,
Uniswap Foundation and Phantom use Allium as their trusted
blockchain data partner. Allium is backed by Kleiner Perkins and
Theory Ventures. To learn more, visit www.allium.so.
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Ali Moore ali@cmand.co