Crypto Portfolio Tracker Blockfolio Raises $11.5M USD In Series Abr>
Crypto portfolio tracker Blockfolio has raised $11.5 million in a Series A funding round led by Pantera Capital. Other investors include Bitmex, Huobi, Danhua VC, DCM Ventures, Pathfinder, Abstract Ventures, Refactor Capital, Mayfield Fund, Chapter One Ventures, NKB Group, Global Blockchain Innovative Capital, Block72, and Nirvana Capital.
Founded in 2014, Blockfolio is a free app that tracks cryptocurrency prices across multiple exchanges, and allows users to monitor their current portfolio. Users can use the app to track purchases and sales or to Watch Only, tracking a coin’s value without showing how much a user hold. The app also alerts users when a coin reaches a particular price. In May of this year, it added a new feature called Blockfolio Signal, a broadcast channel that connects token teams directly with the app’s users.
The Series A financing will help the company leverage its “unparalleled reach” to continue innovating as a global leader in the space. It aims to help the crypto space move “from an era of speculation to an era of participation.”
As part of the investment, Paul Veradittakit of Pantera Capital will join Blockfolio’s board of directors. Blockfolio said Veradittakit’s deep experience and relationships in the space combined with his shared vision for a “connected crypto ecosytem” made him the perfect fit to help build the company at the board level.
Ed Moncada, Blockfolio’s cofounder and CEO, told Fortune that he sees an opportunity for Blockfolio to expand beyond a market data provider into the role of mediator for project participants. Eventually, Moncada said he would like crypto teams to be able to use the app to solicit feedback from coin holders, enabling investors to propose changes in features and vote on protocol upgrades.
“The 90 teams actively broadcasting on Blockfolio Signal and the 300+ teams who have requested to join have shown a shared commitment with us to empowering the community with the most relevant and timely information possible,” Moncada said.