Chainalysis worth $ 4.2 billion after $ 100 Million Round

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The blockchain data platform has raised $ 100 million to improve its data coverage, software and accessibility

Blockchain data platform Chainalysis announced to Gestures that it has completed a $ 100 million series E funding round. The round was led by Coatue with the support of new investors such as GIC, Blackstone and SVB Capital, as well as previous investors such as 9Yards Capital, Accel and Benchmark.

Chainalysis ‘ mission is to create the trust and transparency needed for cryptocurrencies to reach their full potential. Through its data platform, the company provides compliance, investigation and risk management tools and supplies software, data and research to exchanges, financial institutions and government agencies in more than 50 countries.

Michael Gronager, Co-founder and Managing Director of Chainalysis, said: “The future of finance and national security will be based on data-driven blockchain decisions. We leveraged the transparency of blockchains to gain actionable insights into markets, threats, and business opportunities.“

The increasing proliferation of cryptocurrencies has led to a growing demand for blockchain data from both public and private sector organizations. Companies and governments around the world use chainalysis tools to prevent crypto money laundering and other crimes.

The new funds will be used to develop Chainalysis software solutions that provide better tools for investigation, compliance and collaboration. The platform will also introduce a Global Intelligence feature to speed up threat identification while expanding its data coverage to other cryptocurrencies such as Defi tokens. Finally, Chainalysis APIs allow your customers direct data access.

Kris Fredrickson, Managing Partner of Coatue, added: “With the proliferation of cryptocurrencies, we believe that financial institutions, government agencies, and crypto companies will increasingly use Chainalysis’s platform to make important decisions-whether to figure out how best to expose the machinations of offenders, or to determine which new crypto products are likely to generate the greatest demand.“

Chainalysis is also expanding its team to include Chief Counsel Sarah Ward, previously with SiSense, and Chief Product Officer Pratima Arora, previously with Atlassian. Former FBI special agent Rob Bone is also Director of Cyber Intelligence at Chainalysis.

In March of this year, Chainalysis raised $ 100 million in its Series D funding round. As a result, the blockchain data platform has now raised a total of $ 365 million and is valued at $ 4.2 billion.