Salesforce Leads Web3 Data and Analytics Platform Mnemonic’s $6M Round

The company will use the funds to ramp up its NFT data, analytics and insights suite of APIs, and expand support of Coinbase’s Base from testnet to mainnet.
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Quick take:

  • Mnemonic has raised $6M in an extended seed round led by Salesforce Ventures.
  • The fundraising also attracted participation from Polygon Ventures, Orange DAO, FIN Capital and FJ Labs.
  • Mnemonic previously raised a $4M seed round backed by Kenetic Capital, Monochrome Capital, Sound Ventures and Tribe Capital in December 2021.

Mnemonic has raised $6 million in an extended seed round led by Salesforce Ventures. The web3 data and analytics provider previously raised $4 million from Kenetic Capital, Monochrome Capital, Sound Ventures and Tribe Capital in a seed round announced in December 2021.

The latest fundraising also attracted participation from the leading Layer 2 ethereum scaling protocol, Polygon, alongside Orange DAO, FIN Capital and FJ Labs.

Since Mnemonic’s 2021 raise, the company has expanded its ecosystem adding support for Polygon and Optimism blockchains. The platform has also added more features that leverage machine learning-driven capabilities to help developers build exceptional user experiences faster – including spam detection, wallet insights, and behavioural categorization.

The company plans to use the fresh funding to accelerate the product roadmap amid increasing demand for deeper on-chain insights, Andrii Yasinetsky, CEO and Co-founder, Mnemonic said in a press statement on Wednesday.

“We’ve built a solid foundation, but Web3 is such a data-rich ecosystem and we’re only scratching the surface of what’s possible. This additional capital funds our ambitious vision to unlock Web3’s full potential to power exceptional experiences, personalized rewards and sticky communities for enterprises of all sizes.”

Mnemonic offers a suite of web3 APIs for wallets, social media, analytics tools and Web3 marketing platforms, enabling users to gain deep insights into NFTs and communities. “Our B2B API platform gives builders the tools they need to power their Web3 experiences at scale, so they can focus on innovation, not building and maintaining complex data infrastructure,” added Yasinetsky.

On the other hand, Laura Rowson, Senior Associate, Salesforce Ventures commented: “Increasingly, we’ve seen a lot of interest from enterprises who want to understand and tap into Web3 to build trusted digital communities, and turn relevant data into actionable insights.”

Salesforce is one of the leading enterprise solution providers in the world. The company made its foray into web3 last June when it announced NFT Cloud, a pilot NFT platform that allows its customers to customers to mint, manage and sell NFTs.

The company’s leading role in the $6 million raise demonstrates its commitment “to invest in innovative companies building scalable enterprise solutions for Web3 — including Mnemonic’s data and analytics platform,” added Rowson.

Salesforce will leverage Mnemonic’s innovative suite of enterprise APIs to help brands tap into first-party data and powerful analytics to deepen customer relationships.


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