Merkle Science Raises $5.75M in Series A Funding
Summary
In addition, Merkle Science adds venture investment veteran and Head of Digital Asset Investments at Susquehanna, Dean Carlson, to its board. The company intends to use the funds to accelerate product development to serve enterprise segments such as law enforcement agencies and financial institutions, continue evolving Behavior-based Rule Engine to meet the rise of privacy protocols, expand its token coverage to over 500,000 tokens and customize solutions for decentralized finance (DeFi) and NFT platforms. Led by Science Co-founder and Chief Executive Officer Mriganka Pattnaik, Merkle Science is a predictive cryptocurrency risk and intelligence platform that helps crypto companies, financial institutions, and government entities detect, investigate, and prevent illegal activities involving cryptocurrencies. Its Blockchain Monitoring tool leverages its proprietary Behavioral Rule Engine to go beyond the blacklists — which are inherently backward-looking — so that compliance teams may detect illicit activity from their incoming and outgoing cryptocurrency transactions and meet their local KYC/AML compliance obligations. The Blockchain Monitoring Tool also helps regulators understand the risks across all types of crypto businesses, stay on top of emerging technologies, and keep pace with the industry’s increasingly complex illicit activities.