Metrika attracts investment from M12 and Nyca Partners

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Metrika, a blockchain operational intelligence and risk management platform, has announced an extension of its Series A funding round, raising $4 million. The round was led by Microsoft’s Venture Fund, M12, and Nyca Partners. With the additional funds, Metrika intends to expand its services and meet the growing demand for its platform from leading protocol teams, financial institutions, and regulatory agencies.

Metrika has recently introduced new features for the Ethereum network, including metrics, dashboards, and alerts in partnership with the Ethereum Foundation and Lido. These features provide critical insights on Maximal Extractable Value (MEV), OFAC compliance for MEV Relays, and protocol upgrades, including Withdrawals, which will be enabled for the Ethereum network by the end of March. This level of visibility can be utilized by blockchain communities, financial institutions, and regulators to monitor the stability and assess the protocol risks of blockchain networks that support new financial products and services.

According to Nikos Andrikogiannopoulos, CEO of Metrika, traditional risk management tools were not designed to manage decentralized protocols, and a different approach is needed to deal with these new challenges. The company recently published a free technical guide on the challenges, opportunities, and risks of staking for financial institutions.

Metrika’s platform benefits leading blockchain projects such as Ethereum, Solana, Algorand, Hedera, Dapper Labs, and LACChain. The company has also expanded into the interoperability space with the addition of monitoring and alerts for the Axelar network. Its deep insights into these leading protocols provide a broad foundation for regulation and compliance tools for financial institutions and enterprises.

James Wu, partner at M12, said Metrika provides an important contribution to the evolution of the web3 financial ecosystem. Hans Morris, managing partner at Nyca Partners, said the company provides an essential component for enterprises and financial institutions to participate in the future of digital assets.

Metrika is a fast-growing technology company, tripling its revenue in 2022, growing the size of its team by 40%, and expanding its platform with more protocols and customers. With this new funding, Metrika expects to accelerate its growth and help protocol teams, financial institutions, and regulators accelerate the adoption of digital assets.

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