Blockchain analytics provider Chainalysis has announced its $170 million Series F funding round.The new funding succeeded $100 million in financing Back in June 2021, its valuation surpassed $4.2 billion at the same time.
The financing was led by Singapore’s sovereign wealth fund GIC, with further participation from investors Accel, along with Blackstone, Dragoneer and FundersClub, which led Chainalysis’ $30 million Series B in 2019. The Bank of New York Mellon and Emergence Capital also participated in the round as the first entrants.
According to the announcement, the funds will be used to enhance product innovation and expand global operations — building on the company’s existing customer base of 750 companies in 70 countries.
We are pleased to announce a US$170 million Series F financing led by Singapore’s sovereign wealth fund GIC, with participation from our existing investors, bringing our valuation to US$8.6 billion. https://t.co/SOt4v46HCM pic.twitter.com/jJHDumzJfd
— Chain Analysis (@chainalysis) May 12, 2022
Chainalysis operates a Software-as-a-Service (SaaS) business model for global enterprises and government agencies and is widely recognized at the consumer level for its quantitative insights into the decentralized finance (DeFi) space, often with an inherent focus on financial security .
new official member Crypto Market Integrity AllianceAlong with Coinbase, BitMEX, and Huobi Technology, among others, Chainalysis has outperformed correction markets, demonstrating the evergreen necessity for security and compliance in the emerging financial sector of cryptocurrency.
The latest development in Chainalysis is the introduction of On-chain oracle screening software Designed to enhance the ability of cryptocurrency exchanges to identify and target malicious wallets and transactions.
In the near future, application programming interface (API) services are expected to support exchanges’ ban on sanctioned wallet addresses to deter fraudulent activity in this area.