Metrika Inc., an operational analytics and monitoring service for blockchains, today announced that it has secured $14 million in new funding led by Neotribe Ventures to expand its platform and broaden its customer base.

Other investors also participating in the Series A round included Coinbase Ventures, Samsung Next, Nyca Partners and SCB 10X. This latest round brings the total financing for Metrika to $17.7 million, which includes its previous $3.7 million in seed funding.

The company’s vision began with the objective to monitor the decentralized operations of blockchain networks, which is far more difficult than traditional systems. That’s because no single node or entity has end-to-end visibility into the entire network. Therefore, the security and value of monitoring requires the active participation of multiple parties contributing to the blockchain. 

Metrika offers blockchain networks, and network operators, monitoring, analytics and operational intelligence with comprehensive data for all participants. This can be viewed via dashboards, reports and real-time alerts so that any issues affecting the health of the blockchain can be dealt with before they become a problem.

“As distributed ledgers grow in popularity, operational performance management tools will serve as the critical infrastructure required to support this expanding network,” said Swaroop “Kittu” Kolluri, founder and managing partner at Neotribe Ventures. “Metrika’s elegant architecture fills a critical void in the development, growth and integration of blockchain.”

The company’s customers include smart contract platform Algorand; high-performance blockchain Solana; digital collectibles platform Dapper Labs Inc., the creators of NBA Top Shot and CryptoKitties; decentralized governance blockchain Hedera Hashgraph; and business blockchain infrastructure company Blockdaemon Inc. 

“Blockchain technology is having a transformational impact on the world as part of the services we rely on daily, including those from financial institutions, supply chains and our healthcare systems,” said Nikos Andrikogiannopoulos, chief executive of Metrika. “But the cost of downtime can be catastrophic, and even one failed transaction can erode trust in an entire network.”

With Metrika’s operational intelligence service constantly collecting and analyzing health data of the blockchain network, operators can fine-tune latency, improve performance and reliability, while managing potential security issues, the company said.

“With this new round of funding from our esteemed partners, Metrika is another step closer to delivering on our promise to de-risk blockchain networks for the benefit of all,” said Andrikogiannopoulos.

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