Chainalysis raised $170 million in its Series F funding round, which was led by GIC, the Government of Singapore Investment Corporation, and other investors.
Chainalysis, a cryptocurrency and blockchain auditing firm, has announced a $170 million funding round led by GIC, the Government of Singapore Investment Corporation. Accel, Blackstone, Dragoneer, Fundersclub, the Bank of New York Mellon, and Emergence Capital were among the previous and new investors who participated in the Series F funding round.
With this new investment, the company’s valuation has risen to $8.7 billion, at a time when crypto regulation is being adopted by more countries and government bodies around the world. This funding round dwarfs the company’s most recent raise, which was $100 million in June of last year, giving it a valuation of $4 billion at the time.
The investment complements other blockchain-related investments made by GIC, which was also involved in the previous Series E round and has invested in Anchorage and the BC Group. Chainalysis co-founder and CEO Michael Gronager stated on the subject:
“Our partners at GIC understand the power of Chainalysis’ data platform and customer network, the strength of our team of leaders, and the market opportunity before us.”
Gronager also stated that the company would be expanding into the APAC region.
Chainalysis Growth And Expansion
Chainalysis has also provided an overview of the goals it hopes to accomplish with the funds raised. According to the company, this investment will help to “innovate products and scale its global operations to meet customer demand as the asset class gains mainstream acceptance.”
According to the company’s figures, Chainalysis has grown significantly. Its customer base has increased by 75% year on year. Furthermore, by partnering with Dapper Labs, the company has added new business by adding NFT-related operations.
Also, It has assisted in the resolution of landmark crypto-related crimes, such as the Colonial Pipeline attack, in which it assisted in the seizure of $2.3 million, and the imposition of sanctions on several Russian-based services involved in money laundering processes.
