Breadcrumbs.app, an open blockchain analytics tool, announced a $1.6 million seed funding round today. Led by Distributed Global Capital, and other investment firms including Cadenza Ventures and Spartan Group. With participation from supporters including Signum Capital and Everglades Capital, and other angel investors.
Founded by Lorne Lantz after being scammed by an Initial Coin Offering (ICO) in 2018, Breadcrumbs was built as an investigation tool that answers the question “where did the crypto come from and where did the crypto go?”, but has since evolved to offer a range of tools and services that help make the cryptospace a safer place to be in.
Since its move away from Beta last September 2021, Breadcrumbs’ popularity has been growing not only within the crypto community, but also among Compliance and Open-Source Intelligence (OSINT) groups.
Breadcrumbs app believes that everyone has the right to investigate the blockchain. Apart from refining its open blockchain analytics tools and supporting more blockchains, the funds raised will be used to accelerate product expansion and cover compliance needs of micro to medium Virtual Asset Service Providers.
Breadcrumbs app CEO and Founder, Lorne Lantz quipped, “Apart from staying true to our commitment in helping the crypto industry become a safer space, we also want to push the envelope further to make the crypto industry a brave space where traditionally sidelined communities can take chances and thrive. This is the main reason why we are honing in on micro, small and medium Virtual Asset Service Providers to better understand and serve their needs.”
Support for this mission is echoed by Cadenza Ventures Partner, Kumar Dandapani in a statement: “Cadenza Ventures strongly supports Breadcrumbs’ mission to provide greater transparency in the blockchain by making accurate and reliable data accessible to all market participants in this rapidly growing asset class.”
With the gradual mass adoption of cryptocurrencies, blockchain analytics tools are becoming more of a necessity. Breadcrumbs App aims to ensure that everyone has access to tools enabling them to make informed decisions about crypto and decentralized finance.
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