Chainalysis secures unicorn status on the back of $100m Series C round

Blockchain analysis company Chainalysis has closed a $100m Series C financing round led by Addition, bringing its valuation to over the $1bn threshold.

Accel, Benchmark, and Ribbit also increased their investment in the company after participating in previous fundraising rounds.

“Government agencies and the private sector need the right data, tools, and insights to responsibly oversee and participate in the cryptocurrency economy,” said Michael Gronager, co-founder and CEO of Chainalysis.

“We have established a network of government agencies in over 30 countries and more than 250 of the most important businesses around the world who are making it safer and easier for consumers and businesses to transact, fundamentally changing the way money works. Our partners at Addition understand the power of our platform and are a natural partner for this next phase of growth.”

Chainalysis will use the money to fuel its international expansion of its network of government agencies, financial institutions, and other private sector businesses that relies on Chainalysis’s data platform and software solutions for transparency into cryptocurrency transactions and markets.

“Chainalysis is the financial regulatory platform for the future of digital assets” said Lee Fixel, founder of Addition. “The firm’s data, technology, and network are foundational to the blockchain ecosystem. With impressive growth to date, the opportunity for continued global expansion as the preferred partner to governments and businesses seeking compliance and investigative insights is massive.”

The round comes after the cryptocurrency compliance startup added $13m to its Series B round this summer after after expanding the raise in April 2019, bringng the blockchain analysis company’s total Series B investment to $49m.

Copyright © 2020 FinTech Global

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