Kaiko raises $53m to expand crypto market data business

Cryptocurrency market data provider Kaiko has raised $53 million in a Series B funding round aimed at further consolidating its position as a global industry reference for centralized and decentralized digital assets data services.

The round, which will fuel the enhancement of Kaiko’s institutional data products and infrastructure, was led by Eight Roads, with participation from Revaia and existing investors Alven, Point9, Anthemis, and Underscore.

The proceeds of the funding will also be used to expand Kaiko’s global presence. The firm currently operates out of four global offices located in Paris, London, New York, and Singapore.

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Ambre Soubiran, Chief Executive Officer of Kaiko, commented: “The blockchain industry has experienced tremendous institutional interest and with it, the need for high quality data has never been greater. Over the next year, we will solidify our position as an industry leader of institutional data solutions, serving as a critical bridge between centralized and decentralized financial marketplaces. We chose to work with Eight Roads for this intense growth phase, bringing on top-tier and trusted investors with a global presence and a successful track record in scaling innovative businesses.”

Alston Zecha, Partner at Eight Roads, said: “We are thrilled to partner with Ambre and the world-class Kaiko team. Their deep expertise from both traditional finance and crypto-native institutions helps them to bridge these two worlds better than any other firm in the digital asset industry. With their ambitious product roadmap, they are anticipating the strategic direction of an industry which is becoming increasingly sophisticated. Kaiko’s fast-expanding roster of Tier 1 clients is truly impressive, and we look forward to supporting their continuing global expansion.”

The market data provider was founded in 2014 and quickly established its position by enhancing transparency and operational efficiency for institutional companies, DeFi participants, and Web3 enterprises. The firm offers a product suite comprised of market data, portfolio solutions, rates & indices, pricing services, DeFi data, and research.

Kaiko’s leading position can be proven by its top tier client roster which includes ICE Global Network, Deutsche Börse, Oanda, Bloomberg, and other large institutions in North America and Europe. The firm provides data feeds for Ledger, Paxos, Chainlink, Tezos, Messari, SupraOracles, Flux, and the Pyth network, among others.

Kaiko has recently acquired Kesitys, a provider of quantitative decision tools for risk optimization, and agreed to acquire CoinShares’ Napoleon Index subsidiary, enabling the launch of Kaiko Indices.

In February 2022, the firm received their SOC-2 Type-1 accreditation, a gold standard certification developed by the American Institute of CPAs (AICPA) that indicates how companies manage data security, confidentiality, and availability of measurements and controls.