Blockchain intelligence platform Metrika has concluded a $14 million Series A fundraiser to bootstrap the next phase of its growth strategy, further underscoring the venture capital demand for budding blockchain startups.

Metrika announced Tuesday that the funding will be used to further develop its blockchain intelligence platform, which provides monitoring and analytics for decentralized networks, equally well every bit to expand its user base. The investment round was led past Neotribe Ventures with participation from Coinbase Ventures, Samsung Side by side, Nyca Partners and others.

Combined with its $iii.7 one thousand thousand seed round, Metrika has successfully raised $17.7 million to date.

Although Metrika has notwithstanding to emerge as a household proper noun in blockchain intelligence, the company boasts several high-profile customers, including Algorand, Solana, Blockdaemon and NBA Acme Shot creator Dapper Labs. Metrika provides an operational intelligence service that helps companies to monitor the health of their blockchain networks and better their performance.

The continued growth of the decentralized economy has created a new demand for blockchain intelligence services. As Cointelegraph recently reported, this demand isn't limited to just market participants but is true of regulators too. Terminal month, a spokesperson from blockchain analytics house AnChain.AI confirmed that the United States Securities and Commutation Commission had offered the house a $125,000 annual contract to aid monitor and regulate the DeFi industry.

Related: Coinbase signs new $1.36M contract with US Customs enforcement agency

Meanwhile, cryptocurrency exchange Coinbase recently signed its second contract centered effectually its blockchain analytics service with U.S. Immigration and Community Enforcement.

There'southward besides growing bear witness that the payments sector is integrating blockchain intelligence technology as part of its wider encompass of cryptocurrencies. Earlier this month, Mastercard announced information technology had acquired crypto forensics visitor CipherTrace for an undisclosed amount.