Chainalysis hits the $2bn valuation mark after $100m Series D close

Blockchain analysis company Chainalysis has scored $100m in its Series D round, which brings its valuation to $2bn.

The round was led by Paradigm, with commitments also coming from existing investors Addition and Ribbit. TIME Ventures also joined the round as an investor.

This Series D comes just months after the FinTech collected $100m in its Series C in November 2020.

Chainlysis has witnessed strong growth over the last year. Achievements include increasing its annual recurring revenue by more than 100% year-over-year and doubling its client base to include agencies in more than 30 countries and private sector businesses in over 60 countries.

Furthermore, the company has expanded its support to more than 100 digital assets across ten native blockchains.

Over the past 12 months, the company has hired 116 new employees and it is hoping to continue this. By the end of the year, the FinTech hopes to hire hundreds of more staff across all its teams.

The FinTech provides data, software, services and research to financial institutions, cybersecurity companies, insurance firms, exchanges and government agencies. Its data powers investigation, compliance and risk management tools to solve cyber criminal cases and provide detailed exposures to cryptos.

Chainalysis co-founder and CEO Michael Gronager said,”At Chainalysis we  believe that eventually  every company will use the blockchain to conduct their business.

“We’ve collected  more information about what happens on blockchains than anyone in the cryptocurrency industry. That information enables our customers to make better data-driven decisions. Our partners at Paradigm share our vision and understand that the data Chainalysis provides will enable accelerated adoption of cryptocurrency.”

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