Chainalysis Raises $100 Million to Reach $4.2 Billion Valuation
- The $100 million financing round bring Chainalysis’ total valuation to $4.2 billion.
- The company will use the investment to expand its offering and make new hires.
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In an blog post published on 24 June, Chainalysis announced that it secured a $100 million Series E financing led by Coatue. The financing round saw participation from Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage, and SVB Capital. Previous investors Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital all increased their investment in the company.
“Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market,” said Kris Fredrickson, Managing Partner at Coatue. “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.”
The company’s Series E financing follows a $100 million Series D round in March, bringing the total amount raised so far to $365 million. Since then, the company has onboarded a new Chief Product Officer, General Counsel, and Director of Cyber Intelligence. Hundreds of new positions have also been opened at the company to fuel its global expansion.
- While there are still two weeks to go, Chainalysis data shows October has already become the biggest month for crypto crime, with $718 million being stolen across 11 hacks.
- 2022 was also close to becoming the most profitable year for crypto criminals, with 125 hacks being responsible for the loss of $3 billion.
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- The Series F round has more than doubled Chainalysis’ valuation since last year, which is not surprising considering it has increased its customer base by 75%.
- The company has claimed that its various tools are now responsible for monitoring around $1 trillion worth of transactions each month.
- Roman Semenov, co-founder of Tornado Cash, explained that the blockade only applies to the platform’s frontend, and not the underlying smart contract.
- The news came only a day after the Treasury Department alleged that North Korean hacker group Lazarus was connected to the $625 million Ronin bridge hack.