Crypto data provider Kaiko gets $110m funding round led by S&P Global

Source Cryptopolitan

Crypto market-data firm Kaiko is set for a $110 million Series B funding round led by S&P Global, with a roster of banks, exchanges and trading houses all primed to join in.

Kaiko is a crypto data company founded in 2014, that supplies institutional-grade market data and analytics, along with crypto indices for both tokenized and traditional markets. Its client list includes banks, asset managers, exchanges and a host of other financial institutions. The firm claims it tracks over 150 exchanges and protocols.

The crypto firm holds SOC 1 and SOC 2 Type 2 attestations from a Big Four audit firm. Its indices business is also registered as a benchmark administrator under the EU Benchmark Regulation and is listed in ESMA’s register of benchmark administrators.

Kaiko sees multiple investors in funding round

Kaiko has brought together a broad group of co-investors for the funding round alongside S&P Global. The list includes BNP Paribas, Bpifrance, Broadridge, the Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar and Susquehanna Private Equity Investments.

Existing backers Anthemis, Point Nine and Revaia are also participating in the Series B round, having invested in earlier funding rounds.

Kaiko plans to use the new capital to grow two parts of its crypto market-data business. One is its existing digital-asset data operation, while the other is a newer infrastructure product focused on on-chain capital markets.

Why are the backers so interested?

The institutions involved in the funding round have also joined a Strategic Industry Working Group chaired by the crypto data firm. This group will give the institutions a say in shaping the data and infrastructure needed to bring tokenized products into live markets.

S&P Dow Jones Indices CEO Cathy Clay added that the investment round reflects the firm’s growing interest in the sector and a more aggressive push into digital assets.

Kaiko had previously gotten $53 million in a 2022 Series B funding round, which represents about half of the current round’s valuation. CEO Ambre Soubiran stated that the investor group for the new $110m funding round brings together major players from all over the digital-asset industry, and covers everything from pricing and trading to capital allocation and blockchain development.

S&P Dow Jones Indices CEO Cathy Clay said the deal reflects the firm’s growing interest in the sector and a more aggressive push into digital assets.

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