Building For the Next Generation of Data Management - Our Investment in Allium

Cryptoassets are becoming an important market, not just for developers but also for large financial players. In 2023, we saw this trend accelerating, germinating a need for financial institutions to have robust software and infrastructure. Today, cryptoassets are worth $2.5t.?

Through our research and due diligence with market players like exchanges, ETF providers, prime brokers, auditors, and various financial service companies, we heard time & again the most vital component of the institutional software stack was the data and analytics layer.?

Access to accurate & timely data is one of the biggest problems in Web3. As the number of blockchains & transactions increase, the volume of on-chain data is exploding. Because any web3 developer can write their own code via smart contracts, normalizing data across web3 tokens, coins, & swaps is a Gordian knot - and an opportunity for a startup to make sense of it all.?

Financial analysts, app developers, and institutions building on these systems require sophisticated, real-time data to make informed decisions, power applications, and manage business reporting/accounting. These users and builders must have insights into wallet activities, smart contract interactions, and cross-chain events to develop high-performance systems, prevent fraud, and more.

Until now, data services have lacked the depth, speed, and reliability that world class institutions and application developers demand.

Allium provides trust and transparency to the blockchain industry. In our market research, we found that Allium consistently surfaced as the most responsive and accurate data provider. Allium provides the most robust data pipeline management solution in Web3. We are thrilled to lead their $16.5 million Series A, with participation from seed investors Kleiner Perkins and Amplify Partners.

Allium offers quick and simple enterprise-grade blockchain data for leading institutions and companies like Visa, Stripe, Uniswap Foundation, and Phantom. Allium's comprehensive suite of data products, covering 40+ blockchains and over 100 schemas, delivers high-quality blockchain data wherever and however customers need it. This is achieved through two powerful APIs:

• Allium Explorer: Designed for data discovery, investment and market research, financial accounting, and auditing, this API offers intuitive query and visualization interfaces to empower users with actionable insights.
• Allium Developer: Built for high-performance applications and workflows, this API provides real-time data access and ingestion tools, enabling developers to build robust and responsive blockchain-powered solutions.

In addition to these APIs, Allium's robust data infrastructure serves as the backbone for a wide range of use cases:

• Data Infrastructure: A high-performance platform capable of fetching fresh transactions and serving millions of real-time requests.
• Delivered Data Products: Custom data dashboards tailored to specific needs, providing blockchain insights across finance, protocol analytics, and business intelligence.
• Finance & Accounting: Secure, auditable data across 40+ blockchains, simplifying data reconciliation and ensuring compliance with financial regulations.
• Research and Investing: The most up-to-date and accurate data available, empowering financial analysts and investment firms to make informed decisions based on reliable information.

Institutions want to serve users and consumers wherever they are, independent of the chain or network support. Customers do not want fragmentation of their data sources and vendors. Engineers today are bogged down by time-consuming manual and operational work on new chains, new schemas, new delivery cadences, and new delivery mechanisms. With Allium, you can pick your chain, choose your schema, determine your desired freshness, and finalize the destination. Allium monitors uptime and provides data redundancies, delivering this data seamlessly into any data surface: Postgres, Kafka, BigQuery, etc. Enterprises and protocols can thus integrate their existing intelligence and data systems with on-chain data seamlessly and with a high level of confidence.

About Allium

Ethan Chan and Cheng Han Lee founded Allium with the vision for a new approach to blockchain data management. The co-founders, whose relationship spans over a decade, bring extensive experience in large-scale data systems from their time at companies like Primer, Microsoft, Meta, and Poynt. They’ve built for and sold to Fortune 500 companies, Big Tech, and government entities. To learn more, visit www.allium.so.