Crypto analytics platform Messari plots raise at $300 million valuation

Quick Take

  • Messari plans to raise fresh financing at a $300 million valuation. 
  • The fundraising effort comes roughly a year after Messari banked $21 million in a round led by Steve Cohen’s Point72 Ventures.
  • The raise would be the latest in a string of noteworthy investments in crypto focused data analytics startups.

Messari, a crypto-focused data analytics business, plans to raise fresh financing.

The startup is in the process of raising capital at a valuation of $300 million and has pitched potential investors, according to two people familiar with the matter. One of those sources said the company is looking to raise $35 million. 

That would be significantly more than what Messari banked from investors in August last year, when Steve Cohen’s Point72 Ventures — the venture arm of a hedge fund that manages $24 billion in assets — led a $21 million Series A fundraise. It would also roughly triple the company’s valuation.

Messari’s founder and CEO Ryan Selkis declined to comment on the raise, but said via Twitter message: “We’re continuing to build crypto’s largest subscription information business, and are focused on getting ready to release a slate of new products at Mainnet [a conference organized by Messari] this September! More news to share then.”

He added that the startup does not need money and has “never spent a dime of investor capital while scaling to 130 people.”

News of the raise comes just a week after Messari announced the acquisition of Dove Metrics, which tracks fundraising and M&A activity in the crypto sector. The terms of that deal were not disclosed.  


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Rich data

Messari is a part of a small cadre of increasingly well-capitalized startups whose mission is to arm institutions dabbling in crypto with the analytics tools and research needed to navigate the space. Its rivals include the likes of Kaiko, Delphi Digital, Nansen, Dune Analytics, and The Block's own Research unit. Paris-based Kaiko raised $53 million in a Series B round in June, Dune Analytics announced a $69 million raise in February and Nansen banked $75 million in December last year.

Founded in 2018, Messari’s product is built around analytics tools and a disclosures library for clients such as Coinbase, Gemini, BlockTower and Chainalysis. The proceeds of the company’s $21 million round went towards expanding its institutional footprint, in part by scaling a research tool that helps institutional clients with onbarding, integration and support for new crypto assets. Kraken Ventures, Alameda Capital and CMS Ventures were also among its Series A backers.

Messari’s boss Selkis was part of the founding team behind Barry Silbert’s Digital Currency Group (DCG), where he managed the firm’s seed investments, before moving to DCG-owned CoinDesk in the role of managing director.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Ryan Weeks is deals editor at the The Block, focused on fundraising, M&A and institutional trends in the crypto space, among other things. He is particularly interested in investigative work — so please send tips! Ryan previously worked at Financial News, Dow Jones as a fintech correspondent in London. Prior to that, he wrote for several different publications, including Sifted, AltFi and Wired. Beyond journalism, Ryan is a keen reader and writer. He enjoys all things active, especially running, rugby, climbing and tennis.
Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.
Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].