Chainalysis is a blockchain security firm that audits cryptocurrency. It has just announced that it had closed a second round of funding. The company raised $170 million in its Series F funding round, which was led by GIC — the Government of Singapore Investment Corporation — and also had the participation of earlier investors. The company was valued at $8.6 million with this capital infusion.
Chainalysis gets investment from GIC
Chainalysis, which is a crypto and blockchain auditing business, announced that it has raised $170million in its most recent funding round. It was funded by GIC, Government of Singapore Investment Corporation. Participants in the Series F round included both existing and new investors such as Accel, Blackstone and Dragoneer. Fundersclub and the Bank of New York Mellon also participated.
The company now has a value of $8.7billion thanks to this investment. This is in an environment where more governments and countries are adopting crypto regulation. The company’s latest round of funding was completed in June with a $100 million raise. It was valued at $4 billion.
This investment will complement the other Blockchain-based investments made by GIC. GIC was involved in Series E and also put money behind Anchorage. Chainalysis CEO Michael Gronager, co-founder of Chainalysis stated that:
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.
Gronager stated that the company will be expanding to the APAC region.
Growth and expansion
Chainalysis also gave an overview of its goals with the money raised. The company stated that this investment will contribute to “product innovation and scale its global operations to meet customer demand as the asset class gains mainstream acceptance.”
Chainalysis’ growth has been significant, according to the numbers given by the company. The company has seen 75% growth in customer numbers year over year. In partnership with Dapper Labs, it has also expanded its business and added NFT operations. The company has been involved in the solving of crypto-related crime, such as the Colonial Pipeline Attack, which saw it seize $2.3 Million and the establishment sanctions against several Russian-based money-laundering services.
Let us know your thoughts on the Chainalysis $8.6 Billion valuation and Series F Funding Round.
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