Blockchain
Metrika Closes $14M Series A Funding Round to Ensure Blockchain Network Reliability Through Advanced Tools and Monitoring
Metrika, the industry’s leading operational intelligence source for blockchain, today announced a $14M Series A funding round led by Neotribe Ventures. Other institutional investors include Coinbase Ventures, Samsung NEXT, Nyca Partners and SCB 10X, with additional funding from all previous investors, among others. This latest round brings a total of $17.7M in funding to Metrika, including its previous $3.7M seed round. The funds will be leveraged to expand the company’s platform and broaden its customer base across numerous industries.
Metrika customers, which include Algorand, Solana, Dapper Labs (creators of NBA Top Shot), Hedera Hashgraph and Blockdaemon, can track metrics and operations via dashboards, reports and real-time alerts. The result is fast detection of degradations in blockchain network health, management and compliance of operational risk, and intelligent operation interaction.
“As distributed ledgers grow in popularity, operational performance management tools will serve as the critical infrastructure required to support this expanding network,” said Swaroop “Kittu” Kolluri, founder and managing partner at Neotribe Ventures. “Metrika’s elegant architecture fills a critical void in the development, growth and integration of blockchain; we’re pleased to support the team in this pursuit.”
“Every single business that employs blockchain technology in any application needs to understand the operational risks they are taking in using a distributed application, but the tools to do this didn’t exist until Metrika created it,” said Hans Morris, Managing Partner, Nyca Partners. “Just like you would never employ a network solution that constantly failed or had security risks for your customers, companies will need to do the same analysis for a distributed network. But how, in fact would you do that? That’s what Metrika figured out.
The multi-owner, decentralized nature of blockchain technology limits the ability to provide a singular overview of network health and operational status. Traditional monitoring tools are not designed to cope with the design of decentralized networks, presenting a critical issue for stakeholders that require complete operational transparency and insurability.
To solve this, Metrika offers blockchain networks (or any company running blockchain applications) the monitoring, analytics and actionable intelligence that provides a comprehensive view for all participants. Metrika’s operational intelligence service collects and analyzes data on the health of blockchain networks, helping to improve latency, performance and reliability while managing potential security issues, all with the focus on providing trust.
“Blockchain technology is having a transformational impact on the world as part of the services we rely on daily, including those from financial institutions, supply chains and our healthcare systems,” said Nikos Andrikogiannopoulos, CEO, Metrika. “But the cost of downtime can be catastrophic, and even one failed transaction can erode trust in an entire network. With this new round of funding from our esteemed partners, Metrika is another step closer to delivering on our promise to de-risk blockchain networks for the benefit of all.”
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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