[ad_1]
Pro on-chain DeFi and NFT analytics platform Parsec has secured $4 million in an investment round.
Sharing the news on X, the crypto-facing analytics platform revealed that the investment round was led by billionaire pro-crypto investor Mike Novogratz’s Galaxy Digital.
Other key investors include the popular decentralized exchange (DEX) and automated market maker (AMM) Uniswap. In addition, Robot Ventures, CMT Digital, and several other investors.
The Parsec platform also mentioned Will Price, Rice Maximalist, and Freddie Framer as part of its angel investor teams.
Since launching in 2020, Parsec Finance has focused on providing crypto-facing institutions with transparent and practical data they need to make decisions.
The platform enables crypto degens and institutions to access verifiable information across multiple blockchain networks and layer-2 scaling solutions as liquidity rapidly moves.
This mission has drawn the attention of several crypto investment heavyweights like Polygon Capital and Galaxy Digital.
The on-chain DeFi and NFT analytics firm raised $1.25 million in a pre-seed funding round in 2021. This recent raise is its second ever.
CEO and founder Will Sheehan explained that this new capital raise is focused on expanding the protocol’s user base.
This ideology is already in play as the Parsec Finance team announced the launch of its new Teams feature.
This functionality allows individuals working in an organization to use shared resources like private address labels, layouts, and the Parsec application programming interface (API).
Providing more information on the API, Parsec said it rolls up all the curated data into a Python software development kit (SDK) for data teams to retrieve them easily.
Raise Focused on Product and Team Building
Speaking on the recent milestone, Sheehan stated that Parsec Finance has focused more on providing real value to the DeFi and decentralized economy rather than rushing to the market, hence its slow start.
However, he noted that this recent raise will be crucial in accelerating the blockchain analytics platform’s plans.
According to Sheehan, Parsec Finance will aim to expand its eight-man team to roll out more on-chain tools for users to tap into.
Speaking on the platform’s unique selling proposition (USP), Parsec’s Sheehan said its customizable and modular dashboard has seen it compete favorably with industry giants like Nansen and Messari.
The DeFi and NFT analytics service provider has 110 customizable components rendered in real-time on the dashboards as visualizations.
These easy-to-under infographics make it easy for users to act quickly on the information curated.
Parsec Finance currently offers its on-chain analytics services on Ethereum, Arbitrum, Optimism, Base, zkSync, Avalanche, Canto, and Mantle.
According to its founder, the protocol is gearing up to expand its on-chain presence in at least five to 10 blockchain networks. Polygon, Scroll, Monad, dYdX, and Berachain are among the targeted blockchains for this expansion.
[ad_2]
cryptonews.com
