Chainalysis raised $170 million in a Series F funding round led by Singapore’s sovereign wealth fund GIC that doubles the company’s valuation to $8.6 billion since June of last year, according to multiple media reports on Wednesday (May 11).
Launched in 2014 and headquartered in New York, Chainalysis provides blockchain data and analysis to governments, banks and businesses worldwide to help them discover and stop cybercrime and money laundering.
The startup, founded by Chief Technology Officer Jan Moller, Chief Strategy Officer Jonathan Levin and CEO Michael Gronager, has over 600 employees and operates in more than 70 countries. The funding news was first reported by The Information, citing unnamed sources with insider details.
“Nobody knows how cryptocurrency will evolve in 2022, but one thing remains clear, it’s here to stay,” Levin wrote in the recent PYMNTS eBook, “Endemic Economics: 32 Payments Execs on the ‘Next Normal’ That Never Happened.”
Chainalysis has raised more than $536 million to date, including a $100 million Series E in June 2021 led by Coatue. The company also raised $100 million in a Series D funding round in March 2021.
“The future of finance and national security will be based on blockchain data-driven decisions. We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities,” Gronager said at the time of its Series E.
The startup has been backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit and other venture capital firms.
Andrew Fierman, head of sanctions strategy at Chainalysis, recently told PYMNTS that crypto is actually more transparent than a lot of companies and individuals realize, although the scrutiny and compliance regulation debate would make many think otherwise.