Blockworks, a crypto media company, has successfully raised $12 million in a funding round led by RiverNorth Capital Management at a $135 million valuation. This funding round also included participation from Kenetic Capital, Bitmain, and Step Ventures.
Founded in 2018, Blockworks has quickly become a leading media company focused on delivering news, analysis, and insights about the rapidly evolving world of cryptocurrencies and blockchain technology. The funds raised in this latest funding round will be used to expand Blockworks’ team, develop new content and product lines, and grow its subscriber base.
Blockworks’ CEO, Jason Yanowitz, commented on the funding round, saying “We’re thrilled to partner with RiverNorth to bring Blockworks to the next level. This funding will allow us to continue to produce the highest quality content and grow our community of passionate and engaged subscribers.”
Blockworks has grown rapidly over the past few years, with more than 2 million monthly readers and a subscriber base of over 40,000 paying members. The company has established itself as a trusted source of news and analysis in the crypto industry and is known for its in-depth coverage of the latest developments in blockchain technology.
Blockworks’ success can be attributed to its unique approach to content creation. Unlike traditional media companies that rely on advertising revenue, Blockworks generates revenue primarily through its subscription-based model. This allows the company to produce high-quality content without relying on clicks and pageviews to drive revenue.
Blockworks has also established itself as a leading events company in the crypto industry. The company hosts the Digital Asset Summit, an annual conference that brings together leading experts and stakeholders in the crypto industry to discuss the latest trends and developments in the space.
With the funds raised in this latest funding round, Blockworks plans to expand on its events business and launch new products and services aimed at serving its growing subscriber base. The company’s focus on quality content and community building has positioned it for continued success, even as the crypto industry continues to evolve and grow.
RiverNorth Capital Management, the lead investor in this funding round, is a respected asset management firm with over $5 billion in assets under management. The firm’s investment in Blockworks demonstrates its belief in the future of the crypto industry and the important role that media companies like Blockworks play in informing and educating investors.
Other investors in the funding round, including Kenetic Capital, Bitmain, and Step Ventures, are also well-respected names in the crypto industry. Their participation in this funding round is a testament to the quality of Blockworks’ content and the potential for growth and expansion in the crypto industry.
Overall, the $12 million raised by Blockworks in this funding round represents a significant milestone for the company and the crypto industry as a whole. As more investors and mainstream media outlets begin to take notice of the potential of blockchain technology and cryptocurrencies, Blockworks is well positioned to continue leading the charge in delivering quality news, analysis, and insights to its growing subscriber base.
The crypto industry has been through a lot in recent years, with scams and scandals making headlines even as crypto adoption grows steadily. Against this backdrop, crypto-focused media outlets have faced significant challenges in maintaining their relevance and credibility. However, Blockworks, a fast-growing media outlet dedicated to covering the crypto industry, has managed to attract private equity investors despite the many hurdles it has had to overcome.
Blockworks recently announced that it has raised $12 million in a funding round led by 10T Holdings, a private equity firm. The funding is aimed at helping the outlet to expand its research and data analytics offerings through Blockworks Research. This investment will allow the media outlet to double down on its efforts to provide the industry with better information, co-founders Michael Ippolito and Jason Yanowitz said in a statement.
Blockworks Research is a powerful investment platform that brings together data, analytics, research, governance, and real-time news to help investors make better decisions. The platform is designed for financial institutions and deeply crypto-native investors who need up-to-date, accurate information to make informed investment decisions.
The new investment comes at a difficult time for the crypto media industry, as the bear market and a number of high-profile scandals have rocked the industry. However, Blockworks has managed to find success despite these challenges, thanks in part to its commitment to providing reliable news and analysis, free from the influence of external financial ties.
In December 2022, the Block revealed that it had secret financial ties to Sam Bankman-Fried’s Alameda Research. This revelation came at a time when there is growing concern about the potential negative impact that financial ties between media outlets and investment firms can have on the industry’s overall credibility.
Despite this, the Block has continued to win the support of investors like 10T Holdings, Framework Ventures, and Santiago Santos, who participated in the recent funding round. These investors recognize the value of a media outlet like Blockworks, which is dedicated to providing reliable news and analysis that is free from external influences.
Ultimately, Blockworks’ success demonstrates that there is still a strong appetite in the market for high-quality, independent media outlets focused on the crypto industry. As the industry continues to grow and evolve, it is likely that we will see more media outlets emerge to meet the demand for accurate, unbiased coverage of this exciting sector.
Overall, the crypto industry is still in its infancy, and there is much work to be done to build trust and credibility among investors and the broader public. However, media outlets like Blockworks are playing an important role in this process, by providing reliable, unbiased news and analysis that is essential for making informed investment decisions. As the industry continues to mature, it is likely that we will see more media outlets emerge to meet the growing demand for quality information and analysis.