The blockchain intelligence and surveillance firm Chainalysis announced the company has raised $100 million in Series E funding from investors such as Coatue, Benchmark, Accel, Addition, Dragoneer, Sequoia Heritage, and SVB Capital. The financing brings the company’s valuation to $4.2 billion and it aims to expand its resources and deepen data to cover more cryptocurrencies and focus on use cases like decentralized finance (defi).
Chainalysis Raises $100 Million, Blockchain Intelligence Firm’s Valuation Now Over $4 Billion
The blockchain Satoshi designed is a transparent ledger and transactions can be traced all the way back to the genesis block. This doesn’t necessarily mean, however, that a person can pinpoint with accuracy the identity of the individual or organization behind a cryptocurrency transaction.
Nevertheless, this data does help an investigator get closer to that answer. In Bitcoin’s early days, blockchain surveillance was mostly nonexistent, but a few years after the network effect gathered momentum it became much more prevalent.
There are now over two dozen blockchain intelligence and surveillance firms and over the years these companies have upped the stakes by monitoring dozens of blockchains besides Bitcoin. They have also raised millions of dollars from investors and government contracts.
On June 24, the firm Chainalysis revealed it had raised $100 million from investors and it aims to expand operations a great deal. Chainalysis launched in 2013 and the company provides blockchain data to governments, institutions, and exchanges in over 60 countries. The company’s $100 million raise bumps Chainalysis up to a $4.2 billion valuation. The Series E funding round was led by Coatue.
The Series E follows the $100 million Series D round the company raised in March 2021, and the funds will be used to expand services
