Analyst firm Chainalysis raised $ 100 million in Series D funding, bringing its valuation to over $ 2 billion.
We’re excited to announce that we’ve raised a $ 100M Series D at a $ 2B + valuation to fuel our continued growth! @Paradigm led the round, with participation from TIME Ventures, investment firm of @Benioff, and previous investors Addition and @RibbitCapital. https://t.co/8JEQ0jhtAa pic.twitter.com/zNieAmJmcD- Chainalysis (@chainalysis) March 26, 2021
Paradigm led the round, with existing investors Addition Capital, Ribbit and Time Ventures taking part, increasing their stakes in the company.
The raised capital is used by Chainalysis to expand its business and develop corporate solutions for processing blockchain data.
Over the past year, according to the company:
- customer base and revenue more than doubled;
- the number of digital assets supported by analytical tools has exceeded 100 titles, which account for approximately 90% of economic activity in cryptocurrencies;
- the affiliate program has been expanded to more than 50 members;
- the firm hired 116 new employees, including several top managers.
In November 2020, Chainalysis closed its $ 100 million Series C investment round, after which it was valued at more than $ 1 billion.
Earlier, the firm noted that the driver of revenue growth was “an increased demand for tools to track cryptocurrency transactions in order to suppress illegal activities” by the US authorities.