3Commas, an automated crypto trading bot platform, has raised $37 million in a Series B funding round led by investment firms Target Global, Alameda Research and Jump Crypto, as well as Dmitry Tokarev, founder and CEO of crypto custodian Copper. The funding will be used to advance bot technology, expand the trading ecosystem and enhance developer tools for creating apps for the 3Commas ecosystem, according to a press release.

3Commas raised $3 million in a November 2020 seed round that included Alameda Research, which was founded by FTX founder Sam Bankman-Fried.

3Commas is a product ecosystem offering trading tools and automated strategies managed by machine learning-driven trading bots that use historical data to help investors utilize different crypto trading strategies. The startup recently launched the DeCommas subsidiary to provide users with easier access to trade automation in decentralized finance.

“The leadership and talent 3Commas has put in place has put them in a very strong position to be the dominant platform to onboard the next 100 million users to crypto through their automated trading and portfolio management capabilities,” said Mike Lobanov, founder and partner at Target Global. “By creating an ecosystem of tools that work both in [centralized finance] and [decentralized finance], 3Commas family of products provides unparalleled access to prosperity for the vast majority of crypto users."

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CORRECTION (Sept. 22, 18:04 UTC): Jump Crypto was one of the round's lead investors, not Jump Capital.