Chainalysis Announces $170 Million in Funding, Current Valuation at $8.6 Billion

Blockchain analytics provider Chainalysis has announced its $170 million Series F funding round. The latest round of new financing is a successful financing of US$100 million in June 2021, and the current valuation is more than double that of US$4.2 billion.

The funding round was led by Singaporean sovereign wealth fund GIC, with further participation from investor Accel, which previously led Chainalysis’ $30 million Series B round in 2019. Blackstone, Dragoneer and FundersClub, BNY Mellon and Emergence Capital also participated in the round as first participants.

According to the announcement, the funds will be used to strengthen product innovation and expand its global presence — building on its existing customer base of 750 companies in 70 countries.

Chainalysis, which operates Software-as-a-Service (SaaS) business models for global enterprises and government agencies, is widely recognized at the consumer level for its quantitative insight reports into the decentralized finance (DeFi) space, often with an inherent focus on financial security .

As a new official member of the Crypto Market Integrity Alliance, alongside Coinbase, BitMEX and Huobi Technology, Chainalysis has outperformed this correcting market, demonstrating the long-term need for security and compliance in the emerging financial sector of cryptocurrency sex.

A recent development by Chainalysis is the introduction of an on-chain oracle screening software designed to enhance cryptocurrency exchanges’ ability to identify and combat malicious wallets and transactions.

In the near future, application programming interface (API) services are expected to support exchanges’ banning rights on sanctioned wallet addresses to stop fraudulent activity in this space.