Chainalysis Valuation Grows Over $4 Billion After Latest Funding Round
Chainalysis, a blockchain data analytic firm has raised another $100 million in its Series E funding round led by investment firm Coatue and saw participation from Blackstone, Sequoia Heritage, and SVB Capital.
Michael Granger, co-founder, and CEO of Chainalysis Michael Gronage said,
“The future of finance and national security will be based on blockchain data-driven decisions. We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities.”
The latest funding round comes just months after the data firm’s Series D $100 million funding round. The latest fundraise takes the valuation of the firm to $4.2 billion, making it one of the most valuable blockchain data companies. This was the data firm’s third $100 million funding round within seven months. It has raised a total of $365 million on five funding rounds.
The firm revealed it would use the raised funds towards expanding its infrastructure with a focus on data and software. The firm offers blockchain analysis tools to crypto exchanges, law enforcement agencies, and private firms that flag regulatory risks with crypto transactions.
Demand for Crypto and Blockchain Data Analytics on the Rise
Amid growing regulatory scrutiny from governments around the globe, data analytic firm such as Chainalysis has seen a great spike in demand both from private firms indulged in the crypto transaction as well as the law enforcement authorities.
The demand and valuation of crypto firms have skyrocketed this summer. In the first two quarters of 2021, crypto companies have raised over $2.1 billion in seven funding rounds. Firms such as BlockFi and Blockchain.com have raised over $300 million each in their latest funding round.
- $240 Million Hacked Crypto Exchange WazirX Reopens Deposits But Faces Community Backlash
- Expert Flags Pi Network Team as Source of Selling Pressure After Reported 1.2M PI Dump
- Ripple’s Chris Larsen Expands XRP Realized Profit to $764M Amid Evernorth Deal
- Just In: Hyperliquid Strategies Eyes $1B Capital Raise, Plans HYPE Token Accumulation
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
