Data analytics platform CryptoQuant announced that its parent company, Team Blackbird, has closed a $6.5 million Series A led by South Korea-based Atinum Investment.

"Digital assets are considered particularly risky speculative assets due to the difficulty in finding reliable information and engaging in speculative investments without data analysis," Joo Gi-Young, CEO of Team Blackbird, said in a press release. "CryptoQuant’s main value lies in proving that it is possible to redefine investment methodologies for digital assets and establish criteria for evaluating asset value based on accurate data."

The company said it plans to use the proceeds to recruit for both its South Korea and international operations.

The Series A brings the company’s total capital raise to $9 million, with previous investment from Galaxy Interactive and Mirae Asset Capital.