Coinbase Acquires Andreessen Horowitz–Backed Startup Blockspring

    Blockspring, a startup that makes resources for amassing and managing knowledge from APIs, has been acquired by Coinbase.

    “Joining Coinbase was a no-brainer for a variety [of] good reasons like its dedication to establishing an open up money process and the power of its engineering team,” Blockspring declared on its site this 7 days.

    CoinDesk confirmed the acquisition with a Coinbase spokesperson, nevertheless the enterprise declined to remark even further.

    The San Francisco-primarily based Blockspring makes it straightforward to pull knowledge from a variety of APIs into Excel and Google Sheets. The startup experienced been backed by Y Combinator and a $3.4 million funding round from Andreessen Horowitz (a16z) and SV Angel in 2015.

    However with a16z at the time, Blockspring uncovered an early advocate in present-day Coinbase CTO Balaji Srinivasan.

    “Blockspring turns a company’s business enterprise end users into an army of engineers capable to swiftly and conveniently join spreadsheets and other programs to world wide web companies with out any coding experience,” claimed Srinivasan, in accordance to Blockspring’s 2015 funding announcement.

    Additional just lately, Blockspring experienced created an integration for Coinbase into its support.

    According to the company’s acquisition announcement, “Blockspring will go on to run as an independent enterprise and our products and solutions will go on to run for present-day and new shoppers.”

    No money terms of the deal ended up disclosed. Coinbase raised a whopping $300 million in October 2018, and the Blockspring deal is Coinbase’s 11th acquisition, in accordance to knowledge from Crunchbase.

    Coinbase graphic via Shutterstock / OpturaDesign