Chainalysis secures $100 mn in Series E financing at $4.2 bn valuation

By Pavithra R

Chainalysis, the blockchain analysis company, has announced raising $100 mn Series E financing led by Coatue, bringing its valuation to $4.2 bn. 

Previous investors Benchmark, Addition, Dragoneer, Accel, Durable Capital Partners, and 9Yards Capital increased their investment in the company, and Altimeter, GIC, Pictet, Sequoia Heritage, Blackstone, and SVB Capital also participated.

“The future of finance and national security will be based on blockchain data-driven decisions. We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities. Our partners at Coatue understand the power of our vision for the Chainalysis data platform and the software, access, and services it powers,” said Michael Gronager, Co-founder and CEO, Chainalysis. 

Founded in 2014, New York-based Chainalysis is a blockchain analysis company offering cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators, and businesses to fight illicit cryptocurrency activity. The company serves as a strategic partner to financial institutions, governments, and cryptocurrency businesses, providing data, software, and expertise on sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.

Chainalysis will use the finance to execute its vision as the blockchain data platform for cryptocurrency, including:

• Data: Deepen its data advantage by covering additional cryptocurrencies, focusing on emerging use cases like DeFi, and launching a Global Intelligence function to quickly identify warning signs for potential threats and minimize time to response.
• Software: Develop collaboration tools in its suite of software solutions so that both the public and private sector teams can work together from the same data set with a consistent, shared understanding.
• Access: Provide direct access to Chainalysis data through APIs so that government agencies, financial institutions, and cryptocurrency exchanges can combine Chainalysis data with information from within their enterprises to make better decisions.

“Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market. As cryptocurrency adoption grows, we believe that financial institutions, government agencies, and cryptocurrency businesses will increasingly deploy Chainalysis’s platform to make important decisions – from figuring out the best way to dismantle the operations of a threat actor to deciding which new cryptocurrency products are likely to drive the most demand,” said Kris Fredrickson, Managing Partner at Coatue.