Singapore-based Ethereum analytics platform Nansen has raised $12 million in equity in a Series A round led by Andreessen Horowitz (a16z).
Skyfall Ventures, Coinbase Ventures, imToken Ventures, Mechanism Capital and QCP Capital have also joined the round.
The financial terms of the round remain undisclosed. A source close to the development said the round brings the company’s valuation to the $70-80 million range.
Most of the fresh funds will go towards hiring, Nansen’s co-founder and chief executive Alex Svaneik told DealStreetAsia. Nansen is aiming to double its headcount of 30 to 60 by the end of this year and is looking in particular for software, research and quality assurance engineers, as well as institutional sales executives.
