Blockchain Analysis company Chainalysis secured $13 Million

Chainalysis, a New York-based blockchain analysis company, has now secured an additional $13 million to expand its Series B funding round to $49 million.

Chainalysis is founded by Michael Gronager. It is a Blockchain analysis company offering data and analysis to government agencies, financial and exchanges institutions across the 40 countries.

The company serves as a strategic partner to the government, financial institutions, and cryptocurrency businesses across the globe, offering data, software, and expertise on cryptocurrency money and crime laundering techniques, tactics, and procedures.

Michael Gronager, CEO and Co-Founder, Chainalysis, said, "Chainalysis is founded on the belief that providing data insights into cryptocurrency activity will unite government agencies, exchanges, and financial institutions to fuel the industry's growth. Ribbit Capital's deep fintech, cryptocurrency, and government experience and Sound Venture's commitment to creating safer digital environments through enterprise software make them natural partners as we continue our high-growth trajectory and global expansion."

Micky Malka, the Managing Partner of Ribbit Capital, said, "Chainalysis is the data platform bet, as crypto-asset adoption increases across the world. We're convinced that the firm's technology provides the foundational infrastructure for the future of finance. Chainalysis has already seen impressive growth, and the economic opportunity is massive."

The round was backed by the Ribbit Capital, and Sound Ventures. Post funding, Sigal Mandelker, the General Partner at Ribbit Capital, will be going to join as an advisor to Chainalysis.

The company, as of now, has plans to use the new funds to grow its government relationships and add software engineers, business roles, and government sales.

PC: Pablo, Pixabay