Analyst firm Flipside Crypto has raised $50 million in a funding round led by Republic Capital.

1/ Some news: @flipsidecrypto He raised $50 million. Yes, we are excited (and humble 🙏).

All details in this Gitbook: https://t.co/O1Hz1btlZJ

thanks for leading @_rscapital_ with @trueventtures; @GalaxyDigitalHQ; @terra_money; @dapperlabs; @M13Company; @arjunsethi; plus…

— Flipside Crypto (@flipsidecrypto) 19 April 2022

It also included True Ventures, Galaxy, Terra, Dapper Labs, M13 and other venture capitalists.

The firm will use the funds raised to support new networks and second-level solutions, develop analytical tools and launch rewards programs.

The Boston-based startup raised $4.5 million in seed funding in 2018. The following year, Galaxy Digital, Castle Island Ventures, and other firms invested $7.1 million in Flipside Crypto.

The company currently employs 66 people. Flipside Crypto management plans to increase staff to 85 employees by the end of the year.

Recall that in April, analytics firm Coin Metrics raised $35 million in its Series C funding round.