Allium Raises $40 Million to Make Blockchain Data Work for Wall Street

Blockchain data has always had a dirty secret. The information is technically public, sitting on open ledgers for anyone to see. But reading it? That is a completely different problem. Raw blockchain data is a wall of cryptographic strings, transaction hashes, and wallet addresses that means almost nothing to a financial analyst, a compliance team, or even a seasoned developer who has been in the space for years.

That gap between “publicly available” and “actually usable” is exactly where Allium planted its flag. And now, with $40 million in fresh capital, the New York-based startup is ready to go much bigger.

What Is Allium and What Does It Do

Allium is a blockchain data platform that supports both real-time and historical on-chain data from 150-plus blockchains and over 1,000 protocols. It transforms raw blockchain data into clean, standardized, and auditable insights that teams can actually apply.

Founded in 2022 by Ethan Chan and Cheng Han Lee. Chan’s background tells you everything you need to know about where the company is going. Before cofounding Allium, he studied AI at Stanford University and saw firsthand that AI models lived or died depending on the quality of data fed into them. That’s why, amid the crypto bull market in 2021, he and cofounder Cheng Han Lee decided to create a startup that made sense of hard-to-parse blockchain data. “It goes back to the lessons that I learned from machine learning,” Chan told Fortune.

The core insight was brutally simple. Garbage in, garbage out. If institutions were ever going to take blockchain seriously, someone had to fix the data layer first. And nobody was doing it well enough.

The platform is designed to serve use cases such as wallet analytics, DeFi tracking, fraud detection, and institutional research. Think of it as the Bloomberg Terminal equivalent for on-chain data. Except instead of stock tickers and bond yields, it delivers clean, structured, queryable blockchain information directly into the tools that enterprise teams already use every day.

Allium Raises $40 Million in Series B Funding Round

Allium has raised $40 million in a Series B funding round led by Amplify Partners, with participation from Kleiner Perkins and Theory Ventures, amid increasing demand for on-chain analytics services. The New York-based company declined to disclose its valuation.

But the numbers tell their own story.

Allium previously closed a $16.5 million Series A in July 2024, which was led by Theory Ventures and brought total funding to $21.5 million at the time. The Series B brings total disclosed funding to roughly $61.5 million.

That is nearly tripling the company’s total capital raised in under two years. And the investor list alone signals how seriously the institutional world is now treating blockchain data infrastructure. Amplify Partners, Kleiner Perkins, and Theory Ventures are not fringe crypto funds chasing hype cycles. These are mainstream venture firms with long track records. And all three are betting on Allium becoming the foundational data layer for the next phase of institutional blockchain adoption.

So when you see names like that on a cap table, you pay attention.

Who Led the Investment and Which Firms Participated

Amplify Partners led the Series B round. The firm’s partner David Beyer has been direct about what excites him most. “The really, really big upside for them ultimately is the agentic piece,” Beyer said. He is talking about the growing belief that AI agents will increasingly execute financial transactions on their own. And those agents will need clean, real-time blockchain data to do it reliably. That is the bet here.

Kleiner Perkins and Theory Ventures also participated in the round. Theory Ventures had previously led Allium’s Series A, making this a clear vote of continued confidence from an investor that has watched the company up close for over a year. You do not follow on unless you like what you are seeing.

Ethan Chan noted that it has “never been a better time for the institutional side,” referring to the wave of Wall Street firms diving into blockchain.

The investors backing this round are choosing to back the data infrastructure layer. Not any individual blockchain. Not a token. The picks-and-shovels play. And historically, that is often the smarter bet.

Clients Like Visa, Stripe, and the US Fed Already Use Allium’s Data

Here is the kicker. Allium’s client list reads like a who’s who of both traditional finance and crypto-native giants.

Clients include Visa, Stripe, Coinbase, and a16z crypto, and the U.S. Federal Reserve has cited the company’s data.

That last one. Stop on it for a second. The Federal Reserve citing a four-year-old startup’s data in its published analyses is not a routine endorsement. It means Allium’s data quality has cleared a bar that very few blockchain data providers have come anywhere close to.

Visa and Allium’s dashboard tracks organic stablecoin flows, supply, and wallets across blockchains. Phantom uses Allium’s real-time APIs to power millions of wallets. Paradigm collaborated with Allium to co-author research analyzing DeFi’s integration with traditional finance. a16z crypto uses Allium to power their State of Crypto report.

Independent research found 0.000011% data deviation on Allium, compared to 7-plus percent for community-built alternatives.

Let’s be honest. That accuracy gap is not a small difference. For a hedge fund sizing a position or a bank assessing stablecoin exposure, the difference between 0.000011% and 7% error rates is the difference between a tool you can actually trust and one you quietly stop using after the first bad quarter.

Grayscale benchmarks digital asset markets and sizes ETF opportunities using Allium. BCG used Allium to segment stablecoin payments use cases for financial institution clients.

Even major consulting firms are tapping the platform now. That is not a crypto story anymore. That is a financial infrastructure story.

How Allium Turns Blockchain Data Into Readable Information

Most people underestimate how messy raw blockchain data actually is. Every transaction on a public chain is recorded. But in a format that requires serious technical work to decode, normalize, and make queryable at scale. It is not plug-and-play. It never was.

Allium ingests, cleans, and standardizes on-chain data across more than 150 blockchains, making it queryable for financial institutions, developers, and analytics platforms.

The pipeline has four stages. Ingest, decode, enrich, and deliver. Allium operates archive nodes for every supported chain. For EVM chains, this includes geth or erigon snapshots. For Solana, the Geyser plugin. For Bitcoin, full nodes.

The enrichment layer adds USD prices from a multi-source price service, token metadata, contract labels, and cross-chain stitching. Tables then land in the customer’s warehouse via Snowflake Data Sharing, BigQuery Authorized Views, or Databricks Delta Sharing, with a refresh cadence of two to ten minutes for most chains.

And for teams that need it faster, Allium Datastreams pushes events as they are confirmed on-chain, with typical latency of one to three seconds after block finality. Delivery options include AWS Kinesis, Google Pub/Sub, Kafka, or webhook.

The reality is, a data team at a financial institution should not have to build and maintain their own blockchain nodes, run their own decoding pipelines, or figure out how to stitch together a cross-chain USDC transfer. Allium handles all of it. Clean tables, delivered directly into the tools the team already uses. That is the product. And clearly, it works.

Why Institutional Demand for Blockchain Data Is Growing Fast

The timing of this raise is not accidental. Not even close.

Fintech companies like Stripe believe that blockchains and stablecoins, cryptocurrencies pegged to real-world assets like the U.S. dollar, are the best means for AI agents to pay one another. As AI-driven financial activity scales, the need for reliable, real-time blockchain data scales right alongside it. You cannot have one without the other.

But the competitive picture has also thinned out considerably. And that matters.

Dune Analytics, which was valued at $1 billion in a 2022 fundraise, cut 25% of its staff, and Blockworks acquired Messari for more than $10 million, a steep discount to Messari’s approximately $300 million valuation from the same year.

The blockchain data sector went through a brutal consolidation phase. Companies that built for the retail crypto audience during the bull market found themselves without a real business model when sentiment turned. Allium, by contrast, was always targeting institutional clients. That positioning has proven more durable than almost anything else in the space.

Chan believes that for the survivors, increased institutional interest in crypto and the rise of AI are potential boons.

With $40 million now in hand, Allium looks very much like one of those survivors. And then some.

What Allium Plans to Do With the $40 Million

Over the past five years, Chan and his team of now 50 employees have built a business on cleaning data for established firms like Andreessen Horowitz’s crypto arm and Coinbase.

The Series B capital will give the company room to expand that team, deepen its chain coverage, and push further into the agentic AI opportunity that has Amplify Partners most excited.

Allium is also partnering with Walrus to bring over 65TB of indexed historical data from major blockchains onto its on-chain data platform, launching with data from Bitcoin, Sui, Ethereum, Arbitrum, Tron, and XRP.

So the $40 million is not just going toward sales decks and growth hires. It is going toward making the data layer deeper, faster, and more comprehensive. More chains. More protocols. More of the real-time transaction volume that AI agents and institutional trading desks will generate in the years ahead.

The broader picture here is one of an infrastructure company that got the timing right, built a product that serious clients actually trust, and now has the capital to press its advantage while competitors are retreating. For a startup founded just four years ago, that is a very good place to be standing.

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