Chainalysis, a cryptocurrency security and blockchain auditing firm, has announced that it has completed a new funding round for its operations. The company raised $170 million in its Series F funding round, led by GIC – the Government of Singapore Investment Corporation – and with participation from earlier investors. With this capital inflow, the company reached a valuation of $8.6 billion.
Chainalysis receives investment from GIC
Chainalysis, a cryptocurrency and blockchain auditing firm, has announced that it has raised $170 million in its latest funding round, with an investment led by GIC, the Government of Singapore Investment Corporation. The Series F funding round saw participation from first and foremost investors, including Accel, Blackstone, Dragoneer, FundersClub, Bank of New York Mellon and Emergence Capital.
With this new investment, the company has reached a valuation of $8.7 billion, in a context where crypto regulation is beginning to be adopted by more countries and government bodies around the world. This funding round underpins the latest growth from the company, which raised $100 million last June, giving it a valuation of $4 billion at the time.
The investment comes to complement other blockchain-based investments from GIC, which was also involved in an earlier Series E round and put money behind Anchorage and BC Group. On this topic, Chainalysis co-founder and CEO Michael Gronzer said:
Our partners at GIC understand the strength of Chainalysis’s data platform and customer network, the strength of our team of leaders, and the market opportunities before us.
In addition, Gronzer also said that the company will expand its business in the APAC region.
expansion and development
Chainalysis has also provided an overview of the objectives it seeks to accomplish with the funds raised. The company said the investment will “contribute to product innovation and grow its global operations to meet customer demand as the asset class gains mainstream acceptance.”
According to the data provided by the company, the growth of Chainalysis has been significant. Its subscriber count has increased by 75% year-on-year. In addition, the company has added new business to NFT related operations in partnership with Dapper Labs. It has also been involved in solving historical crypto-related crimes, including the Colonial Pipeline attack, where it helped to seize $2.3 million, and established sanctions on several Russian-based services involved in money laundering processes.
What do you think about the latest Series F funding round and the $8.6 billion valuation reached by Chainalysis?
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