Andreessen Horowitz (a16z) leads a $51.5 million Series B funding round for Sardine. Other investors in the round included XYZ, Nyca Partners, Sound Ventures, Activant Capital, Visa, Google Ventures, Eric Schmidt, Vikram Pandit, The General Partnership, NAventures, ING Ventures, ConsenSys, Cross River Digital Ventures, Alloy Labs, and Uniswap Labs Ventures. The capital will apparently be used to accelerate product development and marketing and sales efforts.
Sardine offers real-time protection by combining traditional finance data like bank account history with identity, behavior, and device intelligence to better identify risks. The startup includes Know Your Customer (KYC) and Anti-Money Laundering (AML) verification often required for crypto companies plus sanction and transaction monitoring to prevent fraud at the time of account opening, funding or ongoing transactions. Its customers include crypto exchanges FTX and Blockchain.com.
