Treehouse Raises $18 Million Seed Round to Invest in DeFi Analytics

Web3 startup Treehouse has raised $18 million in its seed funding round. The firm plans to use the fresh funding to invest in decentralized finance (DeFi) data analytics as part of its effort to transform on-chain data into meaningful metrics to help investors make better investment decisions.

Treehouse Bags $18M From Industry Investors

In a press release shared with Coinfomania, the firm noted that the latest funding round was led by an unnamed FinTech investor. However, other participants include Tier 1 VC funds, institutions, and angel investors such as Mirana Ventures, Lightspeed Venture Partners, Binance, MassMutual Ventures, Global Founders Capital, Jump Capital, GSR, Wintermute, Terra’s Do Kwon, Coinhako, Pintu, senior executives from SoftBank Vision Fund, and more.

Commenting on the seed round, David Toh from Mirana Ventures, said:

“As an early supporter and investor of Treehouse, we are excited by the growth of the company and what the team has achieved in a short time. We believe in backing builders who have the grit to challenge the status quo and launch differentiated and innovative products in DeFi.”

Dominic Chrumka from Wintermute said also commented, saying:

“Wintermute is proud to be supporting Treehouse in their mission to make the management of DeFi portfolios easy and meaningful. Their cross-chain dashboards and comprehensive analytics, especially the ability to track P&L attributed to pools in which you are providing liquidity, are game-changing for the industry.”

Filling the Gap

Treehouse noted that although there are existing data tracking tools and platforms in the DeFi economy, none of them can provide in-depth analytics, historical metrics, and comprehensive risk breakdowns comparable to the platforms in the traditional markets.

As a result, the 11-month-old Web3 startup is building an infrastructure that will enable the average investor to fully utilize financial products, cryptocurrency staking, and other services provided by DeFi protocols.

Introducing Harvest

Meanwhile, Treehouse has also introduced its flagship product, dubbed Harvest, which the firm describes as “the most comprehensive DeFi analytics platform” in the industry.

Harvest reportedly indexes blockchains and deconstructs users’ DeFi positions to present historical data, profit & loss (P&L), and risk metrics on a seamless and highly intuitive user interface.

Treehouse also noted that the analytics platform provides information previously unavailable in DeFi and establishes a standard for users to analyze risks associated with their current and historical positions.

According to the company, Harvest will be released in several phases and offer coverage for hundreds of protocols starting with 5 major chains including BNB Chain, Ethereum, Avalanche, Fantom, and Terra.