Millions of cryptocurrency enthusiasts rely on the Blockfolio app to track their digital currency portfolio in real-time. On Wednesday, the company announced that its latest funding efforts have raised $11.5 million in capital, according to Fortune.
The successful fundraising round enjoyed support from crypto hedge fund firm Pantera Capital, as well as several other venture capital companies. The Bitmex and Huobi digital currency exchanges have also contributed to the company’s fundraising efforts.
The Blockfolio app is perhaps best known for its portfolio tracking features which offer users access to information about thousands of digital assets, including real-time data assessing the value of their cryptocurrency holdings. The app also provides users with the option to receive push notifications from various cryptocurrency developers and has plans to add even more capabilities and features in the future.
Blockfolio CEO Ed Moncada suggested that those additional capabilities are one of the reasons for the company's fundraising success. “If we were just a price-tracking application, we wouldn’t be able to raise that kind of money,” he said. He also envisions a bigger role for Blockfolio as an industry mediator of sorts. As Fortune reports,
Moncada sees an opportunity for Blockfolio to expand beyond a market data provider into the role of mediator for project participants. Eventually, he would like cryptocurrency teams to be able to use the app to solicit feedback from coin holders, enabling investors to propose changes in features and vote on protocol upgrades.