Blockworks, a crypto data and infrastructure company based in New York, has completed a Series A extension that values the company at $192 million, up from $135 million in May 2023.
ParaFi Capital and Reciprocal Ventures led the round, with Coinbase Ventures, Advancit Capital, MoonPay Ventures, and other crypto investors also taking part. The company did not share how much money was raised.
More than 20 founders and operators from Blockworks’ customers, including leaders from Solana, Jito, LayerZero, Arbitrum, Kraken, EigenLayer, Polygon, ZKsync, Berachain, and Pudgy Penguins, also invested in this round.
Founded in 2018 by Jason Yanowitz and Michael Ippolito, the startup began as a crypto media and events business. This gave Blockworks a way to attract customers that pure data companies lack, as well as direct ties to institutional investors and crypto founders who are now both customers and investors.
The move into data and infrastructure was planned: media helps build an audience, while data brings in steady revenue and strengthens the company’s position. Blockworks now offers three connected products.
Its data platform collects trillions of rows of blockchain and exchange data from almost 100 sources to support funds and companies. Blockworks IR is an investor relations platform for on-chain businesses, providing branded investor portals, analytics, quarterly reports, and tools for investor engagement. The third product is the Token Transparency Framework, a standard disclosure system for crypto issuers.
Blockworks competes with Coin Metrics, Nansen, and Messari in data, and with Dune Analytics, Kaito, and The Block Research in related fields. What sets Blockworks apart is that it combines a data API, investor relations tools, and a disclosure framework into a single suite.
Blockworks plans to use the new funding to buy select competitors and keep building its data platform for crypto and tokenised assets. The company aims to become the crypto industry’s version of Morningstar.
