Blockchain Data Platform Chainalysis raises $170 Million in Series F Funding Round


Chainalysis, a New York-based blockchain data platform, has now secured $170 million in a Series Funding round.

Chainalysis was founded by Michael Gronager. It is a SaaS blockchain data platform that offers data, services, software, and research to government agencies, financial institutions, exchanges, and cybersecurity and insurance companies in around 70 countries. Its data powers investigation, market intelligence, and compliance software have been used to solve some of the world's most high-profile criminal cases and grow consumer access to cryptocurrency safely.

The company now has over 700 employees.

Executive Opinion

Michael Gronager, Co-founder and CEO of Chainalysis, said, "Over the past year, the cryptocurrency industry crossed into the mainstream with financial institutions entering the space and new technologies like NFTs disrupting traditional markets. Our partners at GIC understand the power of Chainalysis' data platform and customer network, the strength of our team of leaders, and the market opportunity before us. I'm thrilled to deepen our relationship with their team, especially as we expand our business in the APAC region."

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said, "Chainalysis is in a unique position of running a SaaS business in the cryptocurrency space due to the stability of its business model as well as the increasing demand for trust and safety in the overall industry. We are pleased to expand our partnership and look forward to their next stage of growth."

Chainalysis' Latest Funding

The round, which brought its valuation to $8.6 billion, was backed by the GIC, with participation from the previous investors, which include FundersClub, Accel, Dragonner and Blackstone, the Bank of New York Mellon, and Emergence Capital.

The company, as of now, has plans to use the new funds to continue to invest in product innovation and expand its global operations.
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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