LunarCrush, the social analytics and trading platform, announced today that it has successfully raised $5 million in Series A funding, resulting in a valuation of the firm at $30 million.
LunarCrush Raises 5M Dollars in Series A Funding to Expand Its Social Analytics Platform
The Series A funding round was led by Draper Round Table and Ince Capital, with participation from notable investors such as Draper Associates, WWVentures, TRGC, Bitcoin Frontier Fund, Draper Goren Holm, Blockchain Founders Fund, Side Door Ventures, MoonPay, EMURGO, LBANK Labs, FUNFAIR Ventures, and Techstars.
“It’s about building quality, long-lasting solid business, and not overextending yourself,” LunarCrush co-founder and CEO Joe Vezzani told Decrypt in an interview. “So, we hit an inflection point, where we wanted to start scaling up the team.“
Since its launch in 2019, LunarCrush has leveraged API and machine learning technologies to aggregate data from various online sources, including social media platforms like Twitter. This data is then consolidated into a single dashboard, allowing users to gauge online sentiment and gain insights. In recent developments, LunarCrush has expanded its coverage beyond cryptocurrency and now includes analysis of NFTs and stocks as well.
We’ve used machine learning and AI from the start,” Vezzani said. “We use things like Google TensorFlow and OpenAI’s ChatGPT and trained [the AI] on different social media posts that came in for sentiment, from bullish to bearish, focused on financials.
Joe Vezzani
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