US-based blockchain analytics startup Amberdata has raised $30 million in a Series B funding round led by Knollwood Investment Advisory.

Tour participants include Susquehanna International Group, Nasdaq Ventures, NAB Ventures, Chicago Trading Company, Nexo, Coinbase and Innovius.

Existing investors of the venture – Citigroup, Franklin Templeton, Aspenwood Ventures, Rovida Kruptos Assets and Boldstart Ventures – increased their investments.

According to the press release, Amberdata provides “comprehensive data and information on blockchain networks, crypto markets and the DeFi industry” to financial institutions in the digital asset class. Customers use the information for research, business, risk assessment, analytics, reporting and compliance purposes.

“The institutional adoption rate of cryptocurrencies is truly astounding. “In the first quarter, our revenues doubled as the world’s largest financial institutions came to us for mission-critical data,” said Sean Douglas, CEO of Amberdata.

The company will use the funds to expand its business in the US and abroad. Amberdata also plans to expand the depth and scope of the DeFi sphere, accelerating the development of cryptocurrency indices and analytical products.

“There is an avalanche of capital in traditional finance waiting to be used in cryptocurrencies and other digital assets. Boldstart General Partner Eliot Durbin said the Amberdata platform is a critical piece of infrastructure needed to unlock an entirely new corporate asset class.

Recall that in September 2021 the startup raised $15 million, Citigroup led the Series A funding round.