Flipside crypto, blockchain analytics and enterprise intelligence startups behaved $50 million in new spherical of funding to extend valuation tenfold to $350 million.

With the brand new funding, Flipside goals to extend its workforce from its present 66 individuals to greater than 85 by the top of the yr, whereas increasing its capacity to execute further bounties to a whole lot of 1000’s within the coming months. The startup stated it recruited as much as 19,000 analysts in March and paid out over $2 million in bonuses final yr.

Flipside plans to proceed “creating options to scale and course of bounties to many a whole lot of 1000’s every month,” stated Dave Balter, CEO of Flipside Crypto.

The funding spherical was led by Republic Capital with participation from True Ventures, Galaxy, Terra, Dapper Labs, M13 and Blockchain Coinvestors.

Flipside Crypto holds a novel place within the blockchain ecosystem, providing a novel answer that helps startups manage rewards to drive protocol effectivity. Flipside Crypto’s answer consists of each Layer 1 and Layer 2 blockchain networks, and the final word aim stays to constantly deploy its merchandise on each sorts of networks.

By way of its uniquely designed course of referred to as Chainwalking, Flipside analyzes blockchain logs to realize insights into the actions of off-chain and on-chain transactions associated to coin holders, voters in a decentralized autonomous group (DAO), and miners, amongst others. It makes this knowledge freely accessible to “analysts”.

These analysts assist with the rewards program that Flipside organizes for protocols in area. In a single such bonus, these analysts who had been pre-on board the platform had been requested to trace the highest 20 wallets when it comes to gross sales quantity on Magic Eden since March. Every of those analysts acquired 1.29 SOL as a reward for his or her efforts.

The metrics for blockchain fundraising proceed are rising and are on monitor to surpass $33 billion drawn in 2021.

Picture supply: Shutterstock

, Flipside Crypto pulls $50 million from traders led by Republic Capital

, Flipside Crypto pulls $50 million from traders led by Republic Capital

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