Enterprise Grade Back-Office Platform Cryptio Raises $10m in Series A Funding
Aaron Limbu Jun 09, 2022 04:35
Enterprise-grade back-office platform Cryptio has raised $10 million in a Series A funding round.
Enterprise-grade back-office platform Cryptio has raised $10 million in Series A funding round.
The company plans to further invest widely in go-to-market hiring, product development, and expanding its offering to publicly traded companies and institutions.
The funding round was led by Point Nine - an early investor in Chainalysis, Zendesk and Revolut. Other participating investors include BlueYard, Alven, Coinshares, Avantgarde Finance, Protocol Labs, and Draper Associates.
Angel investors such as senior executives from Twitter, GoCardless, Fireblocks, and Ledger were also participants in the round.
Cryptio is an enterprise-grade crypto accounting & reporting platform and is popularly known for its proprietary data infrastructure, transforming complex on-chain activity into institutional-grade reports and ledgers.
Antoine Scalia, Founder and CEO of Cryptio, said "the biggest challenge with crypto accounting on the institutional level is having auditable and reliable transaction history data. Block explorers and third-party data providers often fail to capture complex crypto activity like DeFi, Staking, Mining, and NFTs."
Since the company's seed round led by Draper Associates in March last year, its revenue grew 12 times.
Cryptio's clients include over 200 crypto-native enterprises such as Consensys (creators of Metamask), Aave, DeFi Saver, and The Sandbox.
According to Cryptio, their "software helps financial institutions, corporates and crypto-native businesses navigate the fragmented digital-asset landscape with confidence."
Image source: Cryptio Twitter