Rated Labs Secures $12.888 Million in Series A Funding
Jessie A Ellis Sep 28, 2023 03:20
Rated Labs, known for its Ethereum explorer and API services, has secured $12.888 million in Series A funding led by Archetype. The company plans to use the new capital to expand its services to multiple Layer 1 blockchain networks and enhance its existing product line.
Key Takeaways
* Rated Labs raises $12.888 million in a Series A funding round led by Archetype.
* The company plans to expand its services to multiple Layer 1 blockchain networks including Polygon, Solana, Cosmos, and Polkadot.
* Rated Labs has seen nearly 150,000 unique visitors on its Rated Explorer and 60 million calls on its API since its founding in 2022.
Funding Details
Rated Labs, the company behind the Rated Explorer for Ethereum, announced on September 25, 2023, that it has raised $12.888 million in a Series A funding round. The round was led by venture firm Archetype and included participation from existing seed investors such as Placeholder, 1confirmation, Cherry, and Semantic. New investors in the round included Robot Ventures, Chorus One, Factor, and Maelstrom, among others. The Series A funding brings Rated Labs' total capital raised to over $15 million, following a $2.5 million seed round last year.
Company Milestones
Since its inception in 2022, Rated Labs has garnered nearly 150,000 unique visitors on its Rated Explorer and has recorded 60 million calls on its API, which is integrated across 45+ platforms. The company has also formed partnerships with key players in the Ethereum staking ecosystem, including Lido, Liquid Collective, Metamask Institutional, Chorus One, Stader Labs, and Nexus Mutual.
Expansion Plans
With the new capital, Rated Labs aims to extend its services to multiple Layer 1 blockchain networks, including Polygon, Solana, Cosmos, and Polkadot. Elias Simos, co-founder and CEO of Rated Labs, stated that the company is also working on enhancing its existing product line with new features and real-time functionality. The firm plans to double its current headcount of 12 full-time employees, primarily in the engineering department, over the next few quarters.
Mission and Vision
Rated Labs emphasizes the importance of transparency and integrity in blockchain infrastructure. The company aims to be a "beacon of light" in shaping the future of global transactions in finance, commerce, and media that run on blockchain technology.
Governance
As part of leading the Series A round, Archetype's founder and general partner, Ash Egan, has joined the board of Rated Labs.
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