DATA (DTA)
DATA (DTA)
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News
17 May 2022

Nansen acquires DeFi investment tracker Ape Board for undisclosed eight-figure sum

Nansen acquires DeFi investment tracker Ape Board for undisclosed eight-figure sum

Blockchain analytics platform Nansen has acquired Ape Board, a tool that allows users to track their portfolio of non-fungible token (NFT) and decentralized finance (DeFi) investments. 

Ape Board will become the starting point of a new free-to-use portfolio tracker that will integrate with the rest of Nansen’s features, according to an announcement on Tuesday. Nansen will incorporate Ape Board’s 13 employees into its 120-strong team in the coming months. Ape Board co-founder and CEO Mike Phulsuksombati will switch to heading up portfolio functionality.

The acquisition was for an eight-figure sum, a Nansen representative told The Block. 

“Obtaining data from the cryptocurrency ecosystem, specifically, DeFi protocols and blockchains is complex and fragmented,” Alex Svanevik, CEO of Nansen, said in a statement. “Across the web3 landscape, investors are forced to utilize an assortment of different tools in order to obtain a singular piece of data that will help inform their investment strategy. With this acquisition, we take a big step towards bringing all the market intelligence a trader, institution, or business needs under one roof.”

Launched in 2020, Nansen is an analytics platform that pairs blockchain data with wallet labels. It is known for its ability to track what high-value investors are doing on-chain. Investors use the platform to assess opportunities and to stay on top of their portfolios with real-time alerts.

Nansen announced its latest funding round in December last year, raising $75 million in its Series B. Tiger Global, GIC and Andreessen Horowitz are among its most prominent backers.

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