Funding Round and Investors
On June 23, Allium, a blockchain data analytics company headquartered in New York, announced it had raised $40 million in a Series B funding round. The round was led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures. Co-founder and CEO Ethan Chan declined to disclose the valuation. Allium specializes in transforming raw blockchain data—often a jumble of numbers and transaction strings—into structured, actionable insights for institutional users.
Institutional Clients and Data Edge
Allium’s data has been cited by top-tier institutions such as Visa and the U.S. Federal Reserve. “It’s never been a better time for the institutional side,” Chan said, referring to the wave of Wall Street firms diving into blockchain. The company’s core advantage lies in “controlling the data source.” Chan studied AI at Stanford and saw firsthand that model quality depends on input data quality. That insight drove him and co-founder Cheng Han Lee to launch Allium during the crypto bull market of 2021.
Competitive Landscape and Growth Against the Odds
The blockchain analytics space is crowded, but recent months have seen consolidation. In May, Dune Analytics—once valued at $1 billion—laid off 25% of its staff. In June, Blockworks acquired competitor Messari for more than $10 million, a steep discount from Messari’s ~$300 million valuation in 2022. Against this backdrop, Allium believes survivors will benefit from rising institutional interest and the AI revolution. The company now employs 50 people and serves prominent clients such as a16z’s crypto arm and Coinbase. Even competitor DefiLlama sources some of its data from Allium.
AI Agents as a Future Growth Driver
With many entrepreneurs predicting that AI will handle an increasing share of financial transactions, Chan sees growing demand for Allium’s services. Fintech companies like Stripe view blockchains and stablecoins as the ideal infrastructure for AI agents to transact with each other. David Beyer, a partner at Amplify Partners, is particularly excited about this: “The really, really big upside for them ultimately is the agentic piece.”