Chainalysis raises $100 million at over $2 billion valuation

Chainalysis, the blockchain analysis company, announced it secured a $100 million Series D financing led by Paradigm, bringing its valuation to over $2 billion. Previous investors Addition and Ribbit increased their investment in the company, and TIME Ventures, the investment fund for Marc Benioff, also participated. Chainalysis's proprietary cryptocurrency data powers its industry-leading investigations and compliance software, which enables government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering. 

Chainalysis raises $100 million at over $2 billion valuation

This capital will be used to extend Chainalysis's business to provide enterprise data solutions to Cryptocurrency businesses and financial services providers that want to optimize their market development strategies based on insights into their customers' behaviors; asset managers and financial institutions that want to better understand cryptocurrency market trends as institutional dollars flow into this increasingly mainstream asset class; and government agencies that need to identify and map connections across datasets to build comprehensive pictures of threat actors that abuse cryptocurrency.

What makes cryptocurrency unique is its inherent transparency, and with the right data, businesses can gain valuable intelligence. Chainalysis is already able to provide data that delivers insights beyond compliance that can help inform business development activities, tailor make offerings, and identify new revenue streams. Chainalysis's Series D financing comes on the heels of its $100M Series C round in November 2020. 

Over the past year, the company has increased its annual recurring revenue by more than 100% year-over-year; doubled its client base to include government agencies in over 30 countries and private sector businesses in over 60 countries; grown its support to cover over 100 digital assets across 10 native blockchains, encompassing  approximately 90% of cryptocurrency economic activity; hired 116 new employees; and expanded its partnership program, which now consists of over 50 companies, including Fireblocks and Flashpoint.

Chainalysis has been an enabling force for the growth of the cryptocurrency industry for over six years. The company plans to hire hundreds of new positions across all functions in 2021 to continue its global expansion. Chainalysis is a blockchain analysis company that provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries.
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