Kleiner Perkins-backed data platform Allium closes $16.5M Series A

Allium, the enterprise-grade blockchain data platform, has closed a $16.5 million Series A funding round led by Theory Ventures, according to a press release. 

The firm previously raised $5 million in pre-seed and seed funding from Kleiner Perkins and Amplify Partners, who also joined the latest round. 

Institutional and investor interest in crypto has been on a rebound following the launch of spot bitcoin exchange-traded funds and the growth of the tokenized Treasury bond market, meaning now may be a good time for companies with product-market fit to expand. 

“The demand for cryptocurrencies and tokens has just started. Allium powers many of the most popular applications touching this burgeoning asset class: payment providers, brokerages, and the blockchain ecosystems for builders - just to start,” said Theory Ventures founder Tomasz Tunguz. 

Allium said it plans to use its freshly raised capital to invest in data infrastructure, including launchpads for financial institutions seeking to embrace digital assets. The firm already works with Stripe and Visa, the latter of which Allium assisted in the launch of the Visa Onchain Analytics Dashboard . Crypto-native clients include the Uniswap Foundation and major Solana wallet provider Phantom.

“[W]e look forward to continuing to iterate on our dashboard and metrics with partners like Allium to help our clients as they explore use cases and opportunities for stablecoins in the payment ecosystem,” head of Visa Crypto Cuy Sheffield said. 

Allium’s suite of data products covers 23 blockchains (over 40 if including various EVM layer 2s and other chains, according to its website). These products include the Allium Explorer and Allium Developer APIs, which offer visual interfaces for data diving and data ingestion tools for applications, respectively. 

The company also offers tools to track decentralized exchange, NFT and stablecoin trading data as well as accounting and auditing services. It has helped over 100 companies build custom data schemas, and assisted projects like Wormhole and Jito Labs with their airdrop distributions.

"As crypto adoption continues to accelerate, developers are running into significant challenges ensuring their applications have reliable access to fresh data. Given how complex and fast-changing this data is, building even the most simple analytics application is far from easy,” Kleiner Perkins partner Bucky Moore said.