Chainalysis gets $170m in its sixth fundraising round, valued at $8.6 billion

Chainalysis, a blockchain data platform firm located in Additional York, announced on Thursday that it had secured $170 million in new investment, boosting its worth to $8.6 billion.

Chainalysis gets $170m in its sixth fundraising round, valued at $8.6 billion

According to a news statement, GIC led the Series F, with Accel, Blackstone, Dragoneer, Bank of New York Mellon, and others also participating. Chainalysis recently acquired $100 million at 50 percent its market price in June 2021.

“There’s a complete transformation taking place the place the world of finance’s working methods are transferring to crypto. Our firm can have an enormous alternative on this market. We’re rising in areas resembling Europe and Asia-Pacific. To this point up till now, we had mainly no presence in South America, so that’s one other development space for us. Clearly, we’re investing in worldwide expansions.”

-Michael Gronager, Chainalysis co-founder and CGO said to Reuters.

The increasing usage and acceptance of cryptocurrency has also resulted in increased regulatory scrutiny, increasing demand from institutional clients for Chainalysis providers. In a statement, GIC and BNY Mellon reaffirmed their investment in the blockchain platform. In separate e-mails to Reuters, Blackstone and Accel also acknowledged their stakes.

With more digital asset thefts, frauds, and ransomware assaults making worldwide news, the need for investigative crypto tools is skyrocketing, according to the company, whose multiple tools track $1 trillion in transactions every month. It assists governments and commercial enterprises in detecting illicit crypto transfers via public blockchains that are visible.

The massive software-as-a-service provider claims that its customer base has expanded by 75% to 750 in total. Big spenders with accounts worth $100,000 or more are also on the increase.

While government agencies have long recognized the importance of blockchain understanding and analysis, Chainalysis asserted in an announcement that demand for risk administration and entrepreneurship intellect commodities from transactions, decentralized finance systems, and financial institutions entering the virtual currency space has reached new highs this year.

Its staff currently numbers 700 people, with over half of them arriving in the last year. Chainalysis is rapidly recruiting C-suite executives from well-known organizations in government policies and financial dynamics.

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Jai Hamid

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