Allium raises $40M Series B led by Amplify to scale institutional crypto data stack

Allium, a New York-based crypto analytics startup, has raised $40 million in a Series B round led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures. Co-founder and CEO Ethan Chan declined to disclose the valuation for the round.

The company focuses on cleaning and structuring blockchain data for institutional clients, with users including Andreessen Horowitz’s crypto arm, Coinbase, and even analytics peers such as DeFiLlama, which sources some of its data from Allium. Chan said that institutional players like Visa and the U.S. Federal Reserve have cited Allium’s data, adding, “It’s never been a better time for the institutional side.”

Chan’s background in AI at Stanford shaped Allium’s core thesis that control of data quality is the leverage point for both analytics and machine learning. “It goes back to the lessons that I learned from machine learning,” he told Fortune. “You have to control the data source.” Over five years, Allium has grown to a 50-person team built around this data-first approach.

The raise lands against a tougher backdrop for crypto data businesses. Dune Analytics recently laid off 25% of staff after a 2022 unicorn round, and Blockworks acquired Messari for a reported sum just over $10 million, far below Messari’s prior $300 million valuation. In that context, Allium’s fresh capital signals investor conviction that high-fidelity data serving institutions and AI agents remains a defensible niche.

Amplify Partners’ David Beyer pointed to the convergence of crypto rails and AI-driven finance as a key upside. “The really, really big upside for them ultimately is the agentic piece,” he said, as fintechs like Stripe and others explore blockchains and stablecoins as the default payment layer for autonomous agents, potentially increasing demand for Allium’s data infrastructure.