Online cryptocurrency data and research provider TradeBlock has raised $2.8m in funding as part of a new investment round led by Andreessen Horowitz that also included SecondMarket CEO Barry Silbert, Devonshire Investors and FinTech Collective.
For Andreessen Horowitz, the venture capital firm led by early internet pioneer Marc Andreessen, the move represents its latest major backing in the bitcoin ecosystem. The investment follows the firm’s December investment in US-based bitcoin financial services provider Coinbase’s $25m Series B round.
TradeBlock, rebranded from The Genesis Block, began last year as a site where its co-founders Greg and Jeff Schvey could share their analyses and opinions on cryptocurrency market data. When the company hit peak demand for more specific data analytics, Greg told CoinDesk, the business began quietly incorporating its data products and services for some clients.