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

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.

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.