Chainalysis, a cryptocurrency security and blockchain audit firm, has announced that it has completed a new financial round for its operations. The company raised $ 170 million in its Series F financial round, which was led by GIC – the Government of Singapore Investment Corporation – and also had the participation of earlier investors. With this capital flow, the company has reached a valuation of $ 8.6 billion.
Chainalysis Gets Investment From GIC
Chainalysis, a cryptocurrency and blockchain audit firm, has announced it has raised $ 170 million in its latest financial round, with investments led by GIC, the Government of Singapore Investment Corporation. The Series F finance round also featured the participation of earlier and new investors, including Accel, Blackstone, Dragoneer, Fundersclub, the Bank of New York Mellon, and Emergence Capital.
With this new investment, the company is reaching an estimated $ 8.7 billion, in a context where cryptocurrency regulation is beginning to be adopted by more countries and government bodies around the world. This financial round is slowing the company’s latest growth, which raised $ 100 million last June, giving it an estimated $ 4 billion at the time.
The investment comes to complement other blockchain-based investments by GIC, which was also involved in the earlier Series E-round and put funds behind Anchorage and the BC Group. On the subject, Chainalysis co-founder and CEO Michael Gronager stated:
Our partners at GIC understand the power of Chainalysis’s data platform and customer network, the strength of our team of leaders and the market opportunity ahead of us.
In addition, Gronager also stated that the company would expand its business to the APAC belt.
Expansion and Growth
Chainalysis has also provided an overview of the goals it wants to accomplish with the funds raised. The company stated that this investment will contribute to “product innovation and scale its global operations to meet customer demand while the active class is gaining prime acceptance.”
The growth of Chainalysis was significant, according to the numbers given by the company. Its customer base has increased by 75% year on year. In addition, the company has included new business by adding NFT-related operations in partnership with Dapper Labs. It has also been involved in solving major crypto-related crimes, including the Colonial Pipeline attack, where it helped capture $ 2.3 million, and the establishment from sanctions to several Russian-based services involved in money laundering processes.
What do you think of the latest Series F financial round and the $ 8.6 billion valuation achieved by Chainalysis?
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