The blockchain analytics firm in a Series C funding round led by Evolution Equity Partners and backed by a slew of venture capital firms has raised $60 million.
Elliptic’s fundraising history shows a steady rise, with their first round of funding totalling $5 million in 2016, and their second round of funding totalling $28 million in late 2019 and early 2020.
Elliptic, based in London, was founded in 2013 to capture analytical data from the blockchain sector in order to provide anti-money laundering and compliance services to fintech institutions, governmental and legislative groups, and crypto organizations in order to protect them from financial crime while also increasing their risk resilience.
Elliptic’s risk management and analytical data solutions are used by two-thirds of all cryptocurrency volume traded globally, according to the company’s release.
Furthermore, the company claims to have collected 20 billion data points across 98 percent of the sector’s assets based on market value.
Elliptic’s CEO, Simone Maini, stressed the significance of security when it comes to accessing crypto assets, saying:
“This fundraising round is an endorsement of the opportunity for crypto assets in the financial industry — and our absolutely critical role in the ecosystem.”
Elliptic was named one of 100 early to growth-stage projects at the cutting edge of technical innovation by the World Economic Forum in June 2020.
Along with major industry figures Chainlink and MakerDAO, as well as Lighting Labs, Ripio, and Veridium Labs, the company was placed in the Blockchain and Distributed Ledger Technologies category.
Richard Seewald, the founder of Evolution Equity Partners, commented on the potential influence of the fundraising round on Elliptic’s business goals:
“The latest fundraise provides Elliptic more resources to expand their market-leading crypto asset risk management to financial organizations, businesses and regulatory authorities around the world.”
