Tim Draper-Backed Fund Joins $5M Series A for LunarCrush

The social media analytics platform is expanding from a digital asset trading focus to allow users to search for any topic.

AccessTimeIconJul 12, 2023 at 12:00 p.m. UTC
Updated Jul 12, 2023 at 12:01 p.m. UTC

LunarCrush, a platform that helps users make crypto investment decisions based on social media trends, has raised a $5 million Series A round co-led by Draper Round Table, an investment network founded by noted venture capitalist Tim Draper, and INCE Capital.

Other investors in the round included Draper Associates, WWVentures, TRGC, Bitcoin Frontier Fund, Draper Goren Holm, Blockchain Founders Fund, Side Door Ventures, MoonPay, EMURGO, LBANK Labs, FUNFAIR Ventures and Techstars.

  • Profit-Making Crypto Address Makes New Investment of $16M in BTC
    00:59
    Profit-Making Crypto Address Makes New Investment of $16M in BTC
  • Could the Upcoming Bitcoin Conference Move Markets?
    00:34
    Could the Upcoming Bitcoin Conference Move Markets?
  • How Grayscale's 2.5% Fees Could Impact Investor Interest
    11:27
    How Grayscale's 2.5% Fees Could Impact Investor Interest
  • WazirX Hacked for $230M; Mark Cuban, Vitalik Buterin Speak Up on Crypto and Politics
    02:02
    WazirX Hacked for $230M; Mark Cuban, Vitalik Buterin Speak Up on Crypto and Politics
  • Founded in 2018, Los Angeles-based LunarCrush originally collected social media data on digital assets, non-fungible tokens (NFTs) and stocks to help users make trading decisions based on trends.

    Next week, LunarCrush will release the beta version of its Social Search tool, which will allow users to search for any topic on the platform instead of just financial products. The new tool allows users to search across all social media platforms to extract the most relevant content around defined interests.

    “What you see in your feed is designed for you by someone else. We are letting people design their own algorithms by following topics across social media that matter to them the most and distilling signal from the noise,” LunarCrush CEO Joe Vezzani said in an email to CoinDesk.

    Edited by Parikshit Mishra.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.