Miami Tech & Startup News

Crypto data startup Amberdata raises $15M Series A led by Citi

Crypto data startup Amberdata raises $15M Series A led by Citi

Amberdata, a cryptocurrency data startup, has raised a $15 million Series A led by Citi. The funds will help go toward doubling the company’s headcount and expansion nationally and internationally.

“We are a digital assets data company powering the institutional adoption of cryptocurrency,,” said Shawn Douglass, CEO and co-founder of  Amberdata, who works out of The LAB Miami in Wynwood with a growing team. “Partnering with the exceptional group of strategic investors gives us unprecedented insights into institutions’ roadmap and challenges.”

Shawn Douglass, CEO of Amberdata

Founded in 2017, Amberdata delivers comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance. The platform provides financial institutions with data for research, trading, risk, analytics, reporting, and compliance, according to the company. 

Douglass says Amberdata analyzes over 8 million blockchain network transactions and more than $500 billion in trading activities daily.

“Blockchain technology enables entirely new financial products to be created and offered at a much lower cost with global market reach. We see growing institutional interest and demand in crypto assets. Our customer list and investors are a stamp of approval for the value we are creating for institutions,” Douglass said in the announcement.  

Amberdata is a team of about 10 now – with three team members in Wynwood. With the new funding, Amberdata will be hiring in Miami for sales and marketing, product and engineering, Douglass said.

Amberdata joins more than a  dozen cryptocurrency and blockchain companies that have been relocating or expanding in Miami this year, as the Magic City focuses on developing a crypto hub in the region. Crypto trading platforms such as, Okcoin, eToro and FTX, crypto finance companies BlockTower and Borderless Capital, as well as startups in the sector are expanding here, and homegrown venture-funded startups like Quiknode and Securitize are reporting strong traction. What’s more, MiamiCoin, CityCoin’s first city-focused currency, recently started trading.

Franklin Templeton, Galaxy Digital, Rovida Kruptos Assets, and executives at GoldenTree Asset Management, and existing investor WEVP participated in Amerdata’s capital raise. In total, the startup has raised $17 million, according to Crunchbase.

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