Chainalysis said to double valuation to $8.6bn

Blockchain data platform Chainalysis has reportedly raised $170m for its Series F round, bringing its valuation to $8.6bn.

The investment was led by Singapore sovereign wealth fund GIC, according to a report from TechCrunch.

The RegTech company previously raised $100m for its Series D round in June 2021. The capital came from Coatue, Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage and several others. This round brought its valuation to $4.2bn, which was double its previous valuation of $2bn.

Chainalysis provides investigations and compliance software to help government agencies and private sector businesses with the ability to detect and prevent cryptocurrency crime and money laundering.

Last month, Chainalysis revealed two new sanctions screening tools to support the cryptocurrency industry. These are an on-chain oracle and an API, which it claims will help users validate they are not interacting with cryptocurrency wallets associated with sanctioned entities.

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