Flipside Crypto wants investors to think beyond market capitalization, and Coinbase apparently agrees.

Revealed exclusively to CoinDesk, the exchange’s Coinbase Ventures arm and Digital Currency Group co-led the analytics startup’s extended seed round that closed on November 21, alongside True Ventures and Castle Island Ventures. Although the size of Coinbase’s investment was not disclosed and the company declined to comment on the move, all told Flipside has raised $4.5 million.

“Coinbase has substantial interest in what data can do to help their customers be most effective at understanding and take part in this space,” Flipside Crypto CEO Dave Balter told CoinDesk. “We look forward to working with them on that.”

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