Cryptocurrency security and blockchain audit firm Chainalysis has announced that it has closed a new funding round for its operations. The company raised $170 million in its Series F round led by GIC (Government Investment Corporation of Singapore), with participation from early investors. As the money poured in, the company was valued at $8.6 billion.
Chainalysis receives investment from GIC
Cryptocurrency and blockchain audit firm Chainalysis has announced that it has raised $170 million in its latest funding round, led by Singapore government investment firm GIC. The Series F financing also saw participation from early-stage and new investors, including Accel, Blackstone, Dragoneer, Fundersclub, BNY Mellon, and Emergence Capital.
With this new investment, the company is valued at $8.7 billion, as more countries and government agencies around the world begin to embrace crypto regulation. The round dwarfs the company’s latest, which raised $100 million last June at a valuation of $4 billion at the time.
This investment is in addition to other blockchain-based investments by GIC, which also participated in an early Series E round and provided funding to Anchorage and BC Group. On the subject, Chainalysis co-founder and CEO Michael Gronager said:
Our partners at GIC understand the power of the Chainalysis data platform and client network, the strength of our leadership team, and the market opportunities that lie ahead of us.
In addition, Gronager said the company will expand its business to Asia-Pacific Area.
expansion and growth
Chainalysis also outlined what it hopes to achieve with the funds raised. As the asset class gains mainstream acceptance, the investment will help “innovate products and expand its global presence to meet client demand,” the company said.
According to the data given by the company, the growth of Chainalysis is remarkable. Its number of customers grew 75% year over year.In addition, the company has also incorporated NFT-related businesses into new businesses cooperate with Dapper Labs.It is also involved in solving landmark crypto-related crimes, including Colonial pipeline raids, which helped seize $2.3 million, and established Sanctions were imposed on several Russian services involved in the money laundering process.
What do you think of the latest Series F round and the $8.6 billion valuation that Chainalysis reached?
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