{"id":121352,"date":"2023-07-12T12:26:08","date_gmt":"2023-07-12T12:26:08","guid":{"rendered":"https:\/\/dripp.zone\/news\/social-analytics-platform-lunarcrush-raises-5m-in-series-a-funding-crypto-news\/"},"modified":"2023-07-12T12:26:11","modified_gmt":"2023-07-12T12:26:11","slug":"social-analytics-platform-lunarcrush-raises-5m-in-series-a-funding-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/social-analytics-platform-lunarcrush-raises-5m-in-series-a-funding-crypto-news\/","title":{"rendered":"Social Analytics Platform LunarCrush Raises $5M in Series A Funding\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Social analytics and trading platform LunarCrush announced today that it raised $5 million in Series A funding, bringing the firm&#8217;s valuation to $30 million.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;It&#8217;s about building quality, long-lasting solid business, and not overextending yourself,&#8221; LunarCrush co-founder and CEO Joe Vezzani told <i>decrypt<\/i> in an interview.  &#8220;So, we hit an inflection point where we wanted to start scaling up the team.&#8221;<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">LunarCrush&#8217;s Series A raise was led by Draper Round Table and Ince Capital.  Other investors joining 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.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Launched in 2019, LunarCrush uses APIs and machine learning to pull data from the internet and social media sites, including Twitter, into a single dashboard and gauge online sentiment.  Recently, LunarCrush expanded beyond cryptocurrency to include NFT and stock analysis.<\/p>\n<figure class=\"w-full max-w-full mt-4 overflow-hidden\"><span style=\"box-sizing:border-box;display:block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:relative\"><span style=\"box-sizing:border-box;display:block;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;padding-top:56.25%\"\/><noscript><img alt=\"LunarCrush Dashboard\" loading=\"lazy\" decoding=\"async\" data-nimg=\"responsive\" style=\"position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%;object-fit:contain\" class=\"absolute inset-0 box-border p-0 border-0 m-auto block w-0 h-0 min-w-full max-w-full min-h-full max-h-full object-contain\" sizes=\"(min-width: 640px) 950px, 384px\" srcset=\"https:\/\/img.decrypt.co\/insecure\/rs:fit:16:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 16w, https:\/\/img.decrypt.co\/insecure\/rs:fit:32:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 32w, https:\/\/img.decrypt.co\/insecure\/rs:fit:48:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 48w, https:\/\/img.decrypt.co\/insecure\/rs:fit:64:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 64w, https:\/\/img.decrypt.co\/insecure\/rs:fit:96:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 96w, https:\/\/img.decrypt.co\/insecure\/rs:fit:128:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 128w, https:\/\/img.decrypt.co\/insecure\/rs:fit:256:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 256w, https:\/\/img.decrypt.co\/insecure\/rs:fit:384:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 384w, https:\/\/img.decrypt.co\/insecure\/rs:fit:640:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 640w, https:\/\/img.decrypt.co\/insecure\/rs:fit:768:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 768w, https:\/\/img.decrypt.co\/insecure\/rs:fit:1024:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 1024w, https:\/\/img.decrypt.co\/insecure\/rs:fit:1280:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 1280w, https:\/\/img.decrypt.co\/insecure\/rs:fit:1536:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp 1536w\" src=\"https:\/\/img.decrypt.co\/insecure\/rs:fit:1536:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2023\/07\/Decrypt-Wallpaper-Format-60.png@webp\"\/><\/noscript><\/span><figcaption class=\"m-0 text-left gg-dark:text-neutral-200 scene:font-itc-avant-garde-gothic-pro scene:text-neutral-700 scene:font-light scene:mt-1\">Image: LunarCrush<\/figcaption><\/figure>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Vezzani says artificial intelligence and its potential impact on Web3 is of particular interest to the team at LunarCrush as they look for new ways to leverage the technology.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;We&#8217;ve used machine learning and AI from the start,&#8221; Vezzani said.  &#8220;We use things like Google TensorFlow and OpenAI&#8217;s ChatGPT and train [the AI] on different social media posts that came in for sentiment, from bullish to bearish, focused on financials.&#8221;<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">In crypto and stocks <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/bullish-vs-bearish\" class=\"sc-adb616fe-0 ePvUAp\">trading<\/a>, sentiment is gauged by investors being bullish or bearish on an asset or the market.  &#8220;Bullish&#8221; refers to optimism that an investment will increase in value, leading to a positive outlook.  Conversely, &#8220;bearish&#8221; implies a pessimistic view, anticipation of a price decrease, and a negative outlook.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">One hurdle Vezzani said LunarCrush had to overcome with training AI models for cryptocurrency and NFTs was that the AI \u200b\u200bdid not understand Web3 lingo.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;If you posted, &#8216;I got wrecked on Dogecoin today,&#8217; and you spelled it REKT; the natural language processing library doesn&#8217;t spell wrecked that way,&#8221; he said.  &#8220;So we had to train our system to understand that was a negative sentiment.&#8221;<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Vezzani says the new funds will go toward building up the LunarCrush team and expanding the scope of its analytical operations and user experience.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:sm:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">&#8220;We&#8217;re always trying to utilize the best technology available to us and serve the end user with a better experience than what is currently out there,&#8221; Vezzani said.<\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-left p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl mb-6 md:text-center gg-dark:text-white\">Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Social analytics and trading platform LunarCrush announced today that it raised $5 million in Series A funding, bringing the firm&#8217;s valuation to $30 million. &#8220;It&#8217;s about building quality, long-lasting solid business, and not overextending yourself,&#8221; LunarCrush co-founder and CEO Joe Vezzani told decrypt in an interview. &#8220;So, we hit an inflection point where we wanted [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":121353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-121352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=121352"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121352\/revisions"}],"predecessor-version":[{"id":121354,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/121352\/revisions\/121354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/121353"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=121352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=121352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=121352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}