PANews reported on September 23rd that, according to CoinDesk, Cloudburst Technologies announced the completion of a $7 million Series A funding round, which will be used to develop its off-chain crypto intelligence platform. This round was led by Borderless Capital, bringing the company's total funding to $11 million since its founding in 2022. Strategic Cyber Ventures, CoinFund, Coinbase Ventures, Bloccelerate VC, and In-Q-Tel also provided additional support. This round of funding will be used to expand Cloudburst's artificial intelligence and data science teams, accelerate product development, and expand its market reach among financial institutions, regulators, and crypto-native businesses.

The company specializes in analyzing data sources such as chatrooms and regulatory filings to detect fraudulent networks, illicit actors, scams, and social media trends. The company says its tools are designed to provide real-time intelligence and predictive insights to regulators, law enforcement agencies, exchanges, investors, and other market participants. Its platform collects millions of off-chain data points, covering Telegram groups, niche forums, regulatory filings, and news sources, and applies proprietary artificial intelligence models to identify emerging threats and patterns.