Chainalysis, a cryptocurrency security and blockchain auditing company, announced that it has completed a new round of funding for its operations. The company raised $170 million in a Series F funding round led by GIC, the Singapore Government Investment Corporation, which also included earlier investors. This influx of capital brought the company to a valuation of $8.6 billion.
Chainalysis receives investment from GIC
Chainalysis, a cryptocurrency and blockchain auditing company, announced it raised $170 million in its latest funding round, an investment led by GIC, the Singapore Government Investment Corporation. Previous and new investors including Accel, Blackstone, Dragoneer, Fundersclub, Bank of New York Mellon and Emergence Capital also participated in the Series F funding round.
These new investments brought the company to a valuation of $8.7 billion at a time when crypto regulation is beginning to be adopted by more and more countries and government agencies around the world. This round of funding surpasses the company’s last fundraising, which raised $100 million last June, giving it a valuation of $4 billion at the time.
The investment complements other blockchain investments from GIC, which also participated in the previous Series E round and invested in Anchorage and BC Group. On this occasion, Chainalysis co-founder and CEO Michael Gronager said:
Our GIC partners understand the power of Chainalysis’s data platform and customer network, the strength of our leadership team and the market opportunities before us.
In addition, Gronager also stated that the company will be expanding into the APAC area.
expansion and growth
Chainalysis also gave an overview of the goals it wants to achieve with the funds it has raised. The company said these investments will help “innovate the product and scale its global operations to meet customer demand as the asset class gains widespread acceptance.”
According to the company, Chainalysis’ growth has been significant. The company’s customer base is up 75% over last year. In addition, the company incorporated new business by adding NFT-related operations in partnership with Dapper Labs. The company was also involved in uncovering landmark cryptocurrency-related crimes, including the Colonial Pipeline attack, where it helped seize $2.3 million, and imposing sanctions on several Russian services involved in money laundering processes.
What do you think about the latest Series F funding round and Chainalysis’ $8.6 billion valuation?
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