Surf, a specialized AI platform focused on cryptocurrency, has secured $15 million in funding led by Pantera Capital, with participation from Coinbase Ventures and Digital Currency Group. The funding will be used to advance its AI model and launch Surf 2.0 in February 2026.
Launched in July 2025 as an invite-only service and opened to the public in September 2025, Surf offers specialized search services focused on the crypto industry. Surf's platform combines proprietary models built for digital asset analysis with data to provide greater accuracy than general-purpose systems. According to Surf's co-founder and CEO, Ryan Li, the platform was initially developed for internal use before gaining market traction.
Surf aims to differentiate itself from general AI models like ChatGPT, Perplexity AI, and Grok, which offer more generalized answers. Surf is designed specifically for the crypto industry, providing more detailed and in-depth research reports. Li stated that Surf is like an expert who has worked in the crypto industry for a long time, with the model trained specifically for crypto. A benchmark test, co-authored with Princeton University, found that Surf's performance on crypto-specific tasks is four times better than ChatGPT and Grok.
The company plans to use the funding to develop Surf 2.0, a more advanced platform that will include expanded proprietary datasets and new agents capable of executing multi-step workflows typically handled by analysts. Surf 2.0 will process more data sources, provide more accurate predictions, and offer more intuitive interfaces for users. The company also intends to launch Surf Enterprise, offering SOC 2 compliance and data privacy for institutional users.
Surf's platform uses a multi-agent architecture that analyzes social sentiment, on-chain activity, and token and market behavior, delivering insights through a chat interface. Since its launch, Surf has attracted over 300,000 users, who have generated over a million research reports. The company reports "millions" in recurring revenue, with 50% month-over-month growth, and aims to reach $10 million in revenue by the end of 2026. Revenue is generated through subscriptions, ranging from $15 to $399 per month, with a free version available with limited daily question allowances.
According to Surf, 80% of its users are not industry professionals, while the remaining 20% come from VC firms, exchanges, and other crypto-related institutions. Surf currently employs fewer than 30 people.
Nihal Maunder, Partner at Pantera Capital, stated that digital asset research requires a level of context and detail that general LLMs don't handle well and that Surf is one of the first teams to take that seriously. Ryan Li emphasized the importance of trustworthy information for financial decisions, stating that generic AI tools aren't built for that and that Surf aims to provide reliable information, especially in the fast-moving crypto market.
