Series C Led by Addition and Joined by Previous Chainalysis Investors
Chainalysis, the blockchain analysis company, announced it secured a $100 million Series C financing led by Addition, bringing its valuation to over $1 billion. Accel, Benchmark, and Ribbit also increased their investment in the company after participating in previous fundraising rounds.
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This capital will be used to further support the international expansion of Chainalysis’s network of government agencies, financial institutions, and other private sector businesses that relies on Chainalysis’s data platform and software solutions for transparency into cryptocurrency transactions and markets. As institutional dollars flow into this newly regulated and increasingly mainstream asset class, Chainalysis will scale its platform and its people to meet the growing global demand for its data and technology.
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Since Chainalysis extended its Series B to $49M in July, the company:
- Announced it increased its number of customers by 65% to drive 100% growth in recurring revenue YoY in the third quarter of 2020
- Opened offices in Singapore and Tokyo
- Assisted US law enforcement in several high-profile cases, including the Twitter hack, the disruption of two terror finance campaigns, the forfeiture of cryptocurrency addresses associated with a North Korea-aligned hacking group, and the seizure of $1B of illicit funds
- Launched Market Intel, a data and insights portal for understanding cryptocurrency markets, and an asset realization program to help government agencies and insolvency practitioners handle, store, realize, and monitor seized assets
- Hired nearly 50 employees to increase headcount by about 30%
“Chainalysis is the financial regulatory platform for the future of digital assets” said Lee Fixel, Founder of Addition. “The firm’s data, technology, and network are foundational to the blockchain ecosystem. With impressive growth to date, the opportunity for continued global expansion as the preferred partner to governments and businesses seeking compliance and investigative insights is massive.”
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