crypto chainalysis 100m paradigm 100m series

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
  • Government agencies that need to identify and map connections across datasets to build comprehensive pictures of threat actors that abuse cryptocurrency

“Paradigm is passionate about investing in companies that enable the future of money,” said Fred Ehrsam, Co-founder, Paradigm.

“We’ll continue to invest in investigations and compliance software, but we’ll also build out new data products both for our existing customer base and new audiences,” Gronager said.

The company is particularly focused on building out its presence in the Asia-Pacific region.

“Cryptocurrency is global, and so is Chainalysis,” said Gronager.

To Chainalysis, cryptocurrencies present unprecedented transparency.

“They are the first global payment systems outside of any one organization’s control, but their blockchains create public, permanent records of all transactions, including illicit activity,” Gronager told TechCrunch.

Blockchain analysis comes in by helping people interpret those public blockchain ledgers.

Powering the regulatory infrastructure of the industry is the heart of our business and our team works everyday to protect the ecosystem.

Second, we will also expand our product portfolio to provide new data solutions. As a digitally native asset class, cryptocurrency provides the opportunity to analyze assets in entirely new ways. We’re building solutions for:

  • Cryptocurrency businesses and financial services providers that want to optimize their market development strategies based on on-chain customer behaviors
  • Asset managers and financial institutions that want to use on-chain data to discover crypto investing opportunities
  • Government agencies that need to connect on-chain activity to other data sets

Third, we’re hiring across all parts of the organization and particularly our engineering and field organizations.

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The company plans to hire hundreds of new positions across all functions in 2021 to continue its global expansion.

ABOUT CHAINALYSISChainalysis is the blockchain analysis company. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Our data platform powers investigation, compliance, and risk management tools that have been used to solve some of the world’s most high-profile cyber criminal cases and grow consumer access to cryptocurrency safely.
Backed by Accel, Addition, Benchmark, Paradigm, Ribbit, and other leading names in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk.

Crypto chainalysis 100m paradigm 100m series1

Chainalysis provides key data infrastructure and software for the cryptocurrency ecosystem, and as cryptocurrency adoption grows, so will demand for Chainalysis offerings.”

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

“What makes cryptocurrency unique is its inherent transparency, and with the right data, businesses can gain valuable intelligence,” said Zac Prince, CEO, BlockFi.

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This is not an overnight success story – rather a team that has built with a long run vision, through multiple crypto cycles, that has created a market leading position for themselves, with the opportunity to compound,” he added. “As cryptocurrency adoption grows, so will demand for Chainalysis offerings.”

As further evidence of a cryptocurrency boom, BlockFi earlier this month announced it closed on a massive $350 million Series D funding at a $3 billion valuation. The financial services company for crypto market investors offers a retail and institutional-facing suite of products.

Notably, BlockFi is also a Chainalysis customer.

Chainalysis, a blockchain analysis company, announced Friday it has closed on $100 million in Series D financing, doubling its valuation to over $2 billion.

The round comes just four months after the company secured a $100 million Series C round at a $1 billion valuation. Paradigm led the latest funding event while existing backers Addition and Ribbit doubled down on their investment in the company. TIME Ventures, Marc Benioff’s investment fund, also participated in the latest financing, which brings Chainalysis’ total raised to $265 million.

This latest round marks Chainalysis’ fourth raise in less than two years.

Previous backers in the company also include Accel and Benchmark.

Chainalysis was founded in 2014 as the official investigators into the hack of Mt. Gox, then the world’s largest cryptocurrency exchange.

Chainalysis, a blockchain analysis company, announced Friday it has closed on $100 million in Series D financing, doubling its valuation to over $2 billion.

The round comes just four months after the company secured a $100 million Series C round at a $1 billion valuation. Paradigm led the latest funding event while existing backers Addition and Ribbit doubled down on their investment in the company. TIME Ventures, Marc Benioff’s investment fund, also participated in the latest financing, which brings Chainalysis’ total raised to $265 million.

This latest round marks Chainalysis’ fourth raise in less than two years.
Previous backers in the company also include Accel and Benchmark.

Chainalysis was founded in 2014 as the official investigators into the hack of Mt. Gox, then the world’s largest cryptocurrency exchange.

With this latest round, it would presumably make USD 266m.

The company said that the new capital will be used to extend its business so to provide enterprise data solutions to:

  • crypto 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 given the increasing adoption of crypto;
  • and government agencies that work on building detailed pictures of threat actors that abuse crypto.

Over the past year, the company has increased its annual recurring revenue (undisclosed) by more than 100% year-over-year.

This is not an overnight success story – rather a team that has built with a long run vision, through multiple crypto cycles, that has created a market leading position for themselves, with the opportunity to compound,” he added. “As cryptocurrency adoption grows, so will demand for Chainalysis offerings.”

As further evidence of a cryptocurrency boom, BlockFi earlier this month announced it closed on a massive $350 million Series D funding at a $3 billion valuation. The financial services company for crypto market investors offers a retail and institutional-facing suite of products.

Notably, BlockFi is also a Chainalysis customer.

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