Crypto portfolio tracker Blockfolio has gathered $11.5 million in a round of fundraising headed by prolific cryptocurrency focused hedge funds Pantera Capital.
Pantera Capital has held a positive outlook for cryptocurrency for a long time. The investment firm, headed by its CEO and chief investment officer Dan Morehead lately invested in market prediction platform Augur, an open source P2P oracle and prediction market platform developed on Ethereum.
As part of the fundraising announcement, the company also announced a remodel of its app.
Blockfolio was designed by the early supporters of Dash to offer a valuable insight into the users’ crypto portfolio. It also provides daily news updates from major crypto news sites, global currency updates and price notification integration.
A report on Fortune states, the company is developing beyond its portfolio management feature. The firm wishes to grow into the role of a mediator for project participants. This is the reason it launched a new feature called “signal” in May, which reportedly permits cryptocurrency developers to share updates via push notifications to their followers on the app. Blockfolio’s rival is Delta, a similar app that provides crypt portfolio management, launched a related feature to Signal.
Fortune cited Blockfolio co-founder and CEO Ed Moncada, who noted:
“If we were just a price-tracking application, we wouldn’t be able to raise that kind of money.”
Moncada envisions a future where cryptocurrency developers can use the app to request feedback from coin holders, which will allow investors to suggest feature changes and vote on protocol upgrades when the need comes up. The number of crypto teams following this new feature on Blockfolio is 90, involving popular prediction market Augur and blockchain identity startup Civic. The company also has another “300-plus trams are on the waitlist.”