Blockchain data platform Chainalysis has announced its $ 170 million Series F funding. According to the Chainalysis blog, the financing was led by the sovereign wealth fund GIC, Singapore, bringing Chainalysis’ valuation to $ 8.6 billion. Former investors Accel, Blackstone, Dragoneer and FundersClub increased their investment in the company, and Bank of New York Mellon and Emergence Capital also participated in the financing. Chainalysis aims to use the fresh funds to invest in product innovation and scale its global activities to meet consumer demand.
Insights from the report showed that Chainalysis’ number of customers has increased by 75% in the past year and has more than 750 customers in 70 countries. Chainalysis’ private customer base doubled and financial services tripled, leading to more than 100 financial institutions as customers, and its customer base, which accounted for more than $ 100,000 in annual recurring revenue, increased by 75% to 150 customers.
Chainalysis raised its Series E funding in June 2021, since then the platform has partnered with NFT platform Dapper Labs, fintech firm Robinhood and traditional financial institutions such as The Bank of New York Mellon, Cross River Bank and Commonwealth Bank of Australia (CBA). ). Chainalysis’ business specifically grew across the Asia-Pacific region, doubling revenue and customer numbers in 2021. In terms of business sales, Chainalysis has maintained a customer satisfaction NPS score of over 80%, according to the blog.
Chainalysis helped disrupt criminal activity and recover funds in November 2021, when the IRS Criminal Investigations seized over $ 3.5 billion in cryptocurrency in 2021, representing 93% of all funds seized by the division during that period, according to the Chainalysis blog. It also seized $ 2.3 million from the ransomware group held responsible for the Colonial Pipeline attack and the Office of Foreign Assets Controls (OFAC) sanctioning two Russia-based cryptocurrency services involved in money laundering.
According to the blog, Chainalysis offers decentralized financing identifications (DeFi) including 100% coverage of the 15 best decentralized exchanges (DEX) liquidity pools, along with its cross-chain investigations, allowing investigators to operate around the growing number of blockchains. Chain analysis screens an average of $ 1 trillion in transaction value each month across all cryptocurrency assets and conducted its second compliance audit for KYT and Reactor products. Chainalysis claims to have employed over 450 people and currently has more than 700 employees.
(With insight from Chainalysis blog)