This article comes fromThe Block, original author: Yogita Khatri

Odaily Translator | Nian Yin Si Tang

This article comes from, original author: Yogita KhatriOdaily Translator | Nian Yin Si Tang

Encryption firm Lukka provides data services and enterprise software tools

Completed $110 million in Series E financing

, with a post-money valuation of US$1.3 billion.

The round was led by global asset manager Marshall Wace, with participation from Miami International Holdings, Summer Capital and SiriusPoint.

Additionally, existing investors including Soros Fund Management, Liberty City Ventures, S&P Global and CPA.com also participated in the round.

With the latest funding, New York-based Lukka plans to expand globally. Robert Materazzi said that as the encryption industry enters a new stage of maturity, demand for the company's data and software tools will grow further.

Founded in 2014, Lukka mainly provides middle and back office software and data tools for institutional clients. Its clients include cryptocurrency exchanges, mining companies, financial institutions and accounting firms."Lukka's comprehensive suite of reporting and analytics software and data solutions addresses the critical and rapidly evolving needs of our clients," said Steven Binetter, Portfolio Manager at Marshall Wace. A future building infrastructure."The Series E round brings Lukka's total funding to date to over $200 million. The company has previously raised more than $90 million in multiple funding rounds.

March 2021, LukkaCompleted $53 million in Series D financing, with a post-investment valuation of approximately US$200 million. Soros Fund Management, a fund founded by George Soros, S&P Global and CPA.com participated in the investment. The funding round will reportedly help the company expand the capabilities of its existing products, which cover data and tax solutions.

Previously in December 2020, Lukka announced

Completed $15 million in Series C financing, S&P Global and State Street Corporation led the round. Other investors include CPA.com, the for-profit organization of the American Institute of Certified Public Accountants (AICPA). With the funding, Lukka aims to power S&P Dow Jones’ upcoming cryptocurrency index. Lukka CEO Robert Materazzi said Lukka's focus will remain on making complex datasets simple.At the same time, Lukka is also constantly expanding its business through various channels.

In May 2021, documents show that S&P Dow Jones Indices (S&P Dow Jones Indices)

, namely SPBTC, SPETH, and SPCMC, representing Bitcoin, Ethereum, and the MegaCap composite index that includes them, respectively. The product suite rivals existing indices from Bloomberg and Galaxy.to reportIn an FAQ, S&P said it uses Lukka Prime's "Fair Market Value Pricing" methodology to calculate asset prices in points rather than dollars.

July 2021, according to Bloombergto report, State Street Bank of the United States is preparing to provide encryption services to its private customers. The company will partner with Lukka, which will provide encryption software for its fund management services, and will provide data support for the fund’s valuation services. It is reported that State Street Bank manages more than $40 trillion in assets and is one of the largest custody institutions in the world.