Crypto Analytics Firm Chainalysis Raises $170M at $8.6B Valuation
Chainalysis, one of the largest crypto and blockchain intelligence companies, has secured $170 million in a Series F fundraising round headed by GIC, a Singapore-based sovereign wealth fund.
Chainalysis was founded in 2014 and provides software solutions that help government agencies, financial institutions, and private firms detect and prevent crypto-related criminality and money laundering, including crypto exchanges and wallet providers.
According to the source, the new capital brings Chainalysis’ valuation to $8.6 billion, which includes the investment.
The firm raised $100 million in a Series D investment round in March 2021, bringing its valuation beyond $2 billion, and another $100 million in a Series E funding round in June, bringing its valuation to $4.2 billion.
According to Crunchbase, the total amount raised by the company to far is $536 million.
Chainalysis released two new tools earlier this year to make it simpler to screen crypto wallets for sanctions compliance: an on-chain oracle and a public API.
“As countries around the world continue to leverage economic sanctions in response to Russia’s invasion of Ukraine, decentralized Web3 groups like DEXs, DeFi platforms, DAOs, and dapp developers are searching for lightweight tools to help them and their customers comply with sanctions policies,” Chainalysis said.
While the company generally sells commercial products, it emphasised that these tools are free to industry participants.
Tornado Cash stated last month that it leverages Chainalysis’ oracle and API to prohibit US government-sanctioned addresses from utilizing the privacy app.
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