Chainalysis, a cryptocurrency and blockchain security audit firm, announced that it has completed a new round of funding for its operations. The company raised $170 million in its Series F funding round, led by GIC – the Government of Singapore Investment Corporation – and also benefited from the participation of previous investors. With this influx of capital, the company reached a valuation of $8.6 billion.
Chainalysis secures investment from GIC
Chainalysis, a cryptocurrency and blockchain audit firm, announced that it raised $170 million in its latest funding round, with investments led by GIC, the Government of Singapore Investment Corporation. The Series F funding round also benefited from the participation of previous and new investors, including Accel, Blackstone, Dragoneer, Fundersclub, Bank of New York Mellon and Emergence Capital.
With this new investment, the company reaches a valuation of $8.7 billion, as crypto regulations begin to be adopted by more countries and government bodies around the world. This funding round dwarfs the company’s latest raise, which raised $100 million last June, giving it a valuation of $4 billion at the time.
The investment complements other blockchain-based investments from GIC, which was also involved in the previous Series E round and put funds behind Anchorage and the BC Group. On this, Chainalysis co-founder and CEO Michael Gronager said:
Our GIC partners understand the power of Chainalysis’ data platform and network of clients, the strength of our leadership team, and the market opportunities available to us.
In addition, Gronager also stated that the company will expand its business to APAC area.
Expansion and growth
Chainalysis also provided an outline of the goals it wants to achieve with the funds raised. The company said the investment will help “product innovation and scale its global operations to meet customer demand as the asset class grows in popularity.”
Chainalysis’ growth has been significant, according to figures given by the company. Its number of customers has increased by 75% year-on-year. Additionally, the company has included new business by adding NFT-related operations in partnership with Dapper Labs. He has also been involved in solving historic crypto-related crimes, including the Colonial Pipeline attack, where he helped seize $2.3 million, and the establishment of sanctions against several services based in Russia involved in money laundering processes.
What do you think of the latest Series F funding round and the $8.6 billion valuation reached by Chainalysis?
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