Investments in the blockchain world keep increasing as the technology develops. Chainalysis, a New York City-based blockchain data platform, raised around $100M in Series E financing.
This funding round was spearheaded by Coatue and it brought the company’s valuation to $4.2 billion. There was participation from earlier investors like 9Yards Capital and Altimeter, Blackstone, Benchmark, Accel, Addition, GIC, Pictet, Sequoia Heritage, Dragoneer, Durable Capital Partners, and SVB Capital.
Chainalysis said that it intends to use the acquired funds to hire hundreds of new workers throughout all its functions to continue with its global expansion and:
- Create dependable collaboration tools in its suite of software solutions to enable the public and private sector teams to work together simultaneously from the same data set.
- Deepen data benefits by covering more cryptos and focusing on emerging use cases like decentralized finance, and launching a Global Intelligence function.
- Offer direct access to Chainalysis data via APIs so that financial institutions, government agencies, and crypto exchanges can integrate data with information acquired from within their enterprises to make decisions.
Led by the co-founder who is also the CEO, Michael Gronager, Chainalysis is a blockchain data platform that offers software, data, services, and research to crypto exchanges, government exchanges, insurance companies, financial institutions, and cybersecurity firms in more than 60 nations.
The company’s data powers investigation, market compliance, and intelligence software have been utilized in the solving of some of the world’s most high-profile criminal cases. They helped grow consumer access to crypto investments safely.