Coinalytics, a Palo Alto, CA-based startup that aims to turn blockchain data into actionable insights and real-time intelligence, raised initial seed funding of undisclosed amount.
The Hive, an incubator for start-ups developing technology for data-intensive enterprises, made the investment.
The funding will be used to expand the company’s technology and sales teams and fuel general company growth.
Founded by CEO Fabio Federici and accelerated by 500 Startups, Coinalytics is advancing a new intelligence layer applies advanced machine learning and distributed systems to cryptographic platforms, enabling enterprises in a variety of industries like online payments, financial services and decentralized applications to make smart decisions in real-time, while maintaining data privacy and trust.
The company has just invited data-intensive enterprises to derive new found real-time business intelligence and risk assessment from blockchains and decentralized applications on transactions in real-time, even before a transaction is confirmed by the network.