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Metrika Attracts Investment from M12 and Nyca Partners

Metrika Attracts Investment from M12 and Nyca Partners

New funds will grow its product offering with financial institutions and regulatory agencies

Metrika, the leading blockchain operational intelligence and risk management platform, announced a $4M extension of their September 2021 Series A round. This extension was led by M12, Microsoft’s Venture Fund, and existing investor Nyca Partners, bringing its total amount raised to date to $22M. Metrika intends to use the funds to meet the increasing demand for the Metrika Platform from leading protocol teams and communities, as well as expand into financial institutions and regulatory agencies.

Metrika has recently released several new features for the Ethereum network, including metrics, dashboards, and alerts, in partnership with the Ethereum Foundation and Lido. These new features provide essential insights on critical topics such as Maximal Extractable Value (MEV), OFAC compliance for MEV Relays, and protocol upgrades, including Withdrawals, which will be enabled for the Ethereum network scheduled for the end of March. This level of visibility can be utilized by blockchain communities, financial institutions, and regulators to continuously monitor the stability and assess the protocol risks of blockchain networks that support new financial products and services.

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“Financial institutions and regulators are realizing there is a blind spot in their risk management tools to offer crypto products and services,” said Nikos Andrikogiannopoulos, CEO, Metrika. “Traditional risk management tools were not designed to manage decentralized protocols; we need a different approach to deal with these new challenges.”

Metrika recently published a free technical guide on the challenges, opportunities and risks of staking for financial institutions.

Leading blockchain projects and their user communities such as Ethereum, Solana, Algorand, Hedera, Dapper Labs (creators of Flow and NBA Top Shot) and LACChain (with the Inter-American Development Bank) currently benefit from Metrika’s tools and services. Metrika has also expanded into the interoperability space with the addition of monitoring & alerts for the Axelar network. Metrika’s deep insights into these leading protocols provide a broad foundation for regulation and compliance tools for financial institutions and enterprises.

“We’re excited to partner with Metrika on their journey. Metrika provides an important contribution to the evolution of the web3 financial ecosystem,” said James Wu, partner at M12, Microsoft’s Venture Fund. “This latest round of funding will help Metrika accelerate product development to meet the unique risks that come with operating in the blockchain space, including regulatory compliance, decentralized security, and protocol-level risk management.”

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“As soon as we met the Metrika team we were convinced they were providing an essential component for enterprises and financial institutions to participate in the future of digital assets. And the progress the company has made since our initial investment has strengthened that conviction,” said Hans Morris, Managing Partner at Nyca Partners. “So we are very excited to continue supporting Metrika as it paves the way for institutional adoption of digital assets.”

Metrika is a fast growing technology company, tripling its revenue in 2022, growing the size of its team by 40%, and expanding its platform with more protocols and customers. With this new funding, Metrika expects to accelerate its growth and help protocol teams, financial institutions, and regulators accelerate the adoption of digital assets.

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[To share your insights with us, please write to sghosh@martechseries.com]

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