Parsec, a crypto-on-chain information analytics platform, introduced a brand new $4 million funding spherical and a DeFi and NFT analytics product.
Michael Novogratz’s Galaxy Digital led the funding spherical, which included participation from Uniswap Labs Ventures, Robotic Ventures, CMT Digital and others, Parsec mentioned on Wednesday. It was a seed extension funding spherical that closed earlier this 12 months, Will Sheehan, founder and CEO of Parsec, instructed The Block. He declined to remark particularly on when the fundraising course of started and ended, in addition to the spherical’s construction and valuation.
Parsec’s growth spherical comes practically three years after it raised a small seed spherical of $1.25 million in January 2021. Sheehan mentioned Parsec has been lean since its founding in 2020 and has raised the brand new spherical to proceed increasing its providing and person base.
There are at the moment eight individuals working at Parsec and Sheehan seems to be hiring some individuals within the technical function. When it comes to new choices, Parsec as we speak launched a “group” product and opened up its beforehand invite-only API to the general public. Crew is a DeFi and NFT analytics product that features tooling, the complete Parsec characteristic set, API entry and account administration service. The API permits builders and analysts to combine Parsec information into their very own programs.
What’s Parsec?
Whereas a number of on-chain analytics platforms exist, together with Nansen and Glassnode, Sheehan mentioned Parsec’s aggressive benefit is its maximally customizable and modular dashboard.
“We’ve the very best information visualizations within the sport: we provide customers greater than 110 customizable parts, all in actual time,” he mentioned. “Our information is shared by way of dashboards and visualizations that merchants perceive and might act on shortly.”
Parsec at the moment helps eight blockchains on its platform — Ethereum, Arbitrum, Optimism, Base, zkSync, Avalanche, Canto and Mantle — and plans so as to add 5 to 10 further networks within the coming months, Sheehan mentioned. Among the networks that curiosity Parsec embody Polygon, Scroll, Monad, dYdX and Berachain, Sheehan added.
Leland Lee, an investor on the Galaxy enterprise group that led the Parsec funding, mentioned in a press release: “Firms like Parsec will play a crucial function in bringing extra establishments into the chain by offering deep DeFi and NFT information transparency that permits audits and threat administration. and superior buying and selling methods.”
