Allium, a prominent blockchain data platform for enterprises, has announced the successful closure of a $16.5 million Series A funding round led by Theory Ventures. Seed investors Kleiner Perkins and Amplify Partners also participated in this round. With this latest investment, the total capital raised by Allium now amounts to $21.5 million. Tomasz Tunguz, Founder of Theory Ventures, will join the board of directors as part of the investment agreement.
Allium specializes in delivering enterprise-grade blockchain data solutions, serving leading institutions and companies such as Visa, Stripe, Uniswap Foundation, and Phantom. Their platform enables these entities to address strategic queries, identify investment opportunities, manage business reporting, and power applications with ease.
The surge in digital dollars on blockchains, particularly via USDT and USDC, has escalated from under $500 million in early 2019 to over $145 billion by May 2024. This rapid adoption of blockchain technology across various networks has exponentially increased the volume of data. Managing and comprehending this complex data has become a significant challenge for organizations seeking to leverage blockchain for reporting, investment, and product development. Allium addresses these challenges through its robust data quality and efficient delivery mechanisms.
Recently, Allium demonstrated its commitment to transparency by providing crucial data to Visa for the launch of Visa’s Onchain Analytics Dashboard. This initiative aims to enhance client understanding of stablecoin transactions and explore opportunities in the payment ecosystem.
Ethan Chan, CEO and Co-Founder of Allium, highlighted the company’s mission to instill trust and transparency in blockchain operations, enabling customers to focus on innovation without concerns about data normalization across diverse blockchain networks.
The Series A funding will enable Allium to expand its data infrastructure and scale its go-to-market efforts. This includes launching platforms tailored for financial institutions embracing digital assets, as well as payment providers, brokerages, and blockchain ecosystems.
Allium offers a suite of data products covering 40+ blockchains and over 100 schemas, facilitated by APIs like Allium Explorer and Allium Developer. Allium Explorer provides intuitive interfaces for data discovery and visualization, while Allium Developer offers real-time APIs and data ingestion tools for high-performance applications.
For tailored enterprise solutions, Allium accommodates specific blockchain preferences, schema requirements, data freshness, and delivery methods. Their platform supports applications ranging from financial accounting and market research to real-time transaction processing for millions of requests, as seen with Phantom, a leading blockchain wallet provider.
As cryptocurrency adoption accelerates, Allium is poised to meet the growing demand for reliable blockchain data essential for expanding adoption and innovation in token-based applications.
For organizations interested in exploring Allium’s blockchain data solutions, a demo can be requested at www.allium.so/contact. The company is also actively expanding its team across engineering, product development, and sales to support its growth trajectory.
