Chainalysis Reaches $8.6 Billion Valuation In $170 Million Series F Funding Round – Chainalysis, a cryptocurrency and blockchain auditing service, has raised $170 million in its most recent funding round, with GIC, the Government of Singapore Investment Corporation, leading the way.
Blackstone, Accel, Fundersclub, Dragoneer, the Bank of New York Mellon, and Emergence Capital all participated in the Series F investment round, as did previous and new investors.
With this fresh investment, the firm now has a market capitalization of $8.7 billion, in a time when more governments and government bodies around the world are beginning to implement crypto regulation.
This round of funding dwarfs the company’s most recent funding round, which raised $100 million in June and valued it at $4 billion at the time.
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The investment complements GIC’s previous blockchain-related investments, including Anchorage and the BC Group, which were also part of the earlier Series E round. Michael Gronager, co-founder and CEO of Chainalysis, said on the subject:
“GIC acknowledges Chainalysis’ data system and customer network, as well as our leadership team’s capabilities and the market opportunity that lies ahead of us.”
Gronager also claimed that the organization would be extending its operations to the APAC region.
Chainalysis also offered a summary of the goals it hopes to achieve with the funds raised. As the asset class obtains mainstream popularity, the company expects this investment to help with “product innovation and scaling its global operations to meet consumer demand.”
According to the company’s figures, Chainalysis has experienced substantial growth. Year over year, the company’s consumer base has grown by 75%. Furthermore, the company has added new business by teaming with Dapper Labs to expand NFT-related operations.
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It’s also been involved in major crypto-related investigations, such as the Colonial Pipeline attack, in which it assisted in the seizure of $2.3 million, and the imposition of sanctions on various Russian-based services implicated in money laundering.
