Chainalysis bags $170 million at a valuation of $8.6 billion
- ByStartupStory | May 13, 2022
Chainalysis, the blockchain data analysis platform has raised $170 million from its new investor Singapore sovereign fund GIC in its sixth round of funding. This round of funding also saw the participation of Blackstone, Bank of New York Mellon, Accel and others. The company was valued at $8.6 billion in the funding round.
Chainalysis was founded in 2014 and has been in news since then for helping the law enforcement agencies track, build cases against and catch the criminals who use cryptocurrency to elude traditional financial rules. Michael Gronager, the co-founder and CEO of the company said that the entire transformation of the world where cryptocurrency is used in the world’s financing operating systems and concluded by saying that their company will have a huge opportunity in the market.
He further said that the company is in a growing phase with respect to its customer base in Europe and Asia-Pacific whereas they see South America as an untapped marketplace that no longer holds its presence. The firm raised its last round of funding at $100 million from investors like Coatue at a valuation of $4.2 billion.
As per Reuters, Choo Yong Cheen, the Chief Investment Officer at GIC said that Chainalysis is in a unique place of running a SaaS (software as a service) business in the cryptocurrency sector.
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