Why we invested in Footprint Analytics？@A&T View
01 Financing Information
Footprint Analytics, a one-stop on-chain data analytics platform headquartered in Singapore, has completed a $2.65 million Seed+ round, led by Matrix Partners, co-invested by A&T Capital, Redpoint, Hash Global, Waterdrip Capital, Lancer Capital and Dual Epoch Capital.
Footprint Analytics announced a $1.5 million seed round in late January. This Seed+ round brings its total seed funding to $4.15 million.
02 Why did we invest in Footprint?
Footprint Analytics is a one-stop on-chain data analysis platform and a code-free data analysis platform in Crypto. Footprint Analytics can be used to explore data with a simple drag and drop. Compared with Dune Analytics, Footprint Analytics can lower the threshold of data analysis and provide more user-friendly data services. Users can generate various BI maps as UGC for public reference through free tools on the platform. In addition, users can obtain more powerful BI functions through paid tools, and can realize the privatization of BI graphs. There are four main groups of potential paying users: analysts, project parties, institutional investors, media, and research institutions.
With its powerful, easy-to-use graphing platform, Footprint Analytics makes cross-chain analytics accessible to everyone, no matter which chain they want to explore. At present, most data analysis platforms on the market only provide single-chain data analysis. In terms of analysis scenarios, taking GameFi as an example, Footprint supports multi-chain overview, cross-chain comparison, single-chain-to-single-project crossover, and drill-down analysis. It applies whether it is industry research or in-depth analysis of individual projects. Footprint Analytics covers 17 chains and the number of transactions covered has grown from 1 billion to 95 billion in just 4 months. It applies whether it is industry research or in-depth analysis of individual projects. Footprint Analytics covers 17 chains and the number of transactions covered has grown from 1 billion to 95 billion in just 4 months. Footprint Analytics now covers 100,000 tokens, 500 DeFi protocols and 1000+ GameFi projects.
In addition, some cross-chain data requires specialized programming skills to capture, while Footprint Analytics helps users avoid programming steps and convert on-chain data into dashboards by dragging and dropping. For developers, Footprint Analytics supports Python and SQL and makes it easy to build custom data dashboards.
The blockchain data analysis platform is a track with great potential. There isn’t enough competition on the track right now, and Footprint has achieved a clear differentiation in its product.
- Potential: According to Statista, the big data and data analytics track will reach $216B in 2021. With the development of the blockchain industry and the take-off of dapps, blockchain data analysis accounts for an increasing proportion of this track.
- Competition: The main and direct competitor currently is Dune Analytics.
- Differentiation: Due to the late mover advantage of technology, Footprint Analytics has differentiation and better user experience in the following aspects.
1. The use threshold is low, and no programming ability is required.
2. The data update speed is faster.
3. Access to more chains, and access to new chains is faster.
4. Cross-chain data and off-chain data can be integrated.
5. Categorize business data and give business meaning. The advantages are: Simple, fast and straightforward for users to use. Unlike Dune, you need to write code from scratch to perform calculations from the underlying complex data table, without the dirty work of cleaning transaction data all the time). Therefore, it also runs faster.
6. Users can contribute indicators and data sheets that can be directly reused for the convenience of the community.
Strong team execution, fast development
In just 9 months, the team has achieved:
- Launch the product website.
- The product has access to 17 chains, surpassing Dune Analytics. Including Abitrum and Avalanche, which are not currently supported by Dune.
- The number of analysts has reached 5000+, the community has contributed a lot of analysis, and the created dashboards and charts have accumulated 24216. The unique IP access exceeds 10k, reaching 1/10 of Dune.
- The number of new graphs uploaded to the platform every day exceeds Dune Analytics.
BI tools are a field that tests execution, because the data itself is transparent and cannot form barriers. If you want to do well on this track, you must be able to do “dirty work” firmly and efficiently.
Blockchain data analysis tools are a track with huge potential.
- According to Statista (below), the big data and data analytics track will reach $216B in 2021. With the development of the blockchain industry and the take-off of dapps, blockchain data analysis will account for an increasing proportion of this track.
- Direct competitor Dune Analytics closed a $70M funding round in February 2022 at a valuation over $1B. Nansen, which is also in the data track but not in direct competition, also completed a $75M financing in December 2021 at a valuation of $750M.
Footprint Business Brief
Blockchain data analysis tool platform
- UGC/New Chart: Users can use free code-free drag-and-drop tools to implement various BI functions, and publish BI charts on the platform for reference.
- SQL Query: Users can implement more and more complex BI functions by using paid professional BI tools, and can choose not to disclose the graph.
About A&T Capital:
A&T Capital is an early-to-growth stage venture fund for emerging disruptive technologies. Led by three founding partners based out of Berlin, Singapore and Shanghai, we are supported by a global dynamic team of researchers and analysts. Our varied backgrounds in high tech, TradFi and venture capital help us understand what is essential for a startup to succeed. In 2021, we raised 100M pool of funds. Our portfolios include Amber Group, Cobo, Gnosis Safe, Nestcoin, Infstones, Consensys, and Commonwealth.
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