Information services company for digital assets, the TIE conducted a Series A funding round and raised $9 million which in turn has increased the valuation of the startup to $100 million. The firm will engage the fund in upscaling its services while expanding its differentiated sectors.
The Series A round was spearheaded by Blizzard in collaboration with investors from Gemini Frontier Fund, Hudson River Trading, NYDIG, Golden Tree Asset Management, and others. Avalanche Lab president, John Wu will join the TIE’s board.
TIE is a leading source of information regarding cryptocurrencies and other digital assets. It offers price predictions, market analysis, and other market data in an institutional style. The crypto SigDev™ Terminal is one of its biggest products; it uses an individual platform to compile and distribute both market and organization information.
The crypto information service provider will utilize the $9 million raised in promoting three sectors of its services. Institutional solutions, token concerns, and data redistribution are the key areas TIE is looking at investing the generated funds.
This is not the only information service provider or data provider that has received funds in recent times. Dune Analytics, a blockchain research tool, also raised almost $70 million in a Series B funding round. The fundraiser catapulted Dune into the unicorn group in the crypto space.
Lukka, a crypto accounting firm also joined the league of unicorns when it generated $110 million from its returning and new investors in a Series E round barely 9 months after it had completed a Series D funding round.
Co-Founder of TIE, Joshua Frank acknowledges that the firm’s distinctive selling point is the caliber of investors and clients that it has in its corner. He mentioned that TIE clientele are ‘large’ investors that each operates on an average of $2 billion assets under management (AUM).
SigDev™ Terminal Explained
The crypto SigDev™ Terminal is known as one of the fastest in updating players, users, and traders on market trends and analysis. It is a tool that effectively filters data to give users the fundamental information needed for trade.
The Terminal is operative in different languages while sourcing relevant information from over five thousand sources. Tagging is one of the tools that is engaged on the platform, similar data are categorized into a single label. Generally, the SigDev™ keeps customers updated without stress.