Chainalysis raises $100 million in latest funding round; company’s valuation crosses $2 billion

Chainalysis raises $100 million in latest funding round; company’s valuation crosses $2 billion

Crypto and on-chain analysis company Chainalysis announced today that it raised $100 million in a Series D funding round with increased the company’s valuation to more than $2 billion.

Crypto investment company Paradigm led the latest funding round along with TIME Ventures, the investment fund of Marc Benioff. Other participants included Addition and Ribbit Capital, the companies that participated in Chainalysis’ earlier Series C and B rounds. 

According to data from CrunchBase, Chainalysis has so far raised a total of $266.6 million across eight funding rounds. A previous one took place on 23 November last year where the company raised $100 million in a Series C round. The company is funded by roughly 14 investors which also includes 9Yards Capital and Accel.

The analysis firm planned to use the new funds to “accelerate” its business growth, and “expand” its product portfolio. According to the company, the funds will allow them to continue their “mission to build trust in blockchains.”

The company described its future plans and stated that it intends to empower the regulatory infrastructure of the crypto industry. Chainalysis team is also building crypto-focused solutions for financial services providers and companies that offer crypto-related services. Asset managers and financial institutions, as well as government agencies, are on their agenda to help them “connect on-chain activity to other data sets.” 

Published at Sat, 27 Mar 2021 01:35:19 +0000

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