Blockchain Analysis startup, Chainalysis secured $100M funding


Chainalysis, is a New York-based blockchain analysis company that has now secured $100 million in a Series D funding round.

Chainalysis is founded by Michael Gronager. It is a blockchain analysis company that offers data, services, software, and research to the government, financial institutions & exchanges, cybersecurity, and insurance companies in more than 60 countries. To date, the company has secured a total of $166.6 Million in seven funding rounds, according to CrunchBase.

Company's data platform powers compliance, investigation, and risk management tools that have been used to solve some of the world's most high-profile cybercriminal cases and grow consumer access to cryptocurrency safely.

Executive Opinion

Fred Ehrsam, Co-founder, Paradigm, said, "Paradigm is passionate about investing in companies that enable the future of money. Chainalysis provides key data infrastructure and software for the cryptocurrency ecosystem, and as cryptocurrency adoption grows, so will demand Chainalysis offerings." 

Michael Gronager, Co-founder and CEO, Chainalysis, said, "At Chainalysis we believe that eventually every company will use the blockchain to conduct their business. We've collected more information about what happens on blockchains than anyone in the cryptocurrency industry. That information enables our customers to make better data-driven decisions. Our partners at Paradigm share our vision and understand that the data Chainalysis provides will enable accelerated adoption of cryptocurrency."

Chainalysis' Latest Funding

The Paradigm led the latest funding round. Other participating investors include Ribbit, Addition, and Time Ventures.

The company as of now has plans to use the new funds to ramp up talent across all functions in 2021. Chainalysis will also pursue its global expansion, and extend its business to provide enterprise data solutions to government agencies, asset managers, and cryptocurrency businesses, notes the announcement.
PC: Pixabay 

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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