Chainalysis, a blockchain analytics provider, has announced its $170 million Series F funding round. The new funding been successful its $100 million raise in June 2021 and most doubly exceeded its valuation of $4.2 billion simultaneously.
The raise was brought by Singaporean sovereign wealth fund GIC and additional participated by investors Accel — who formerly brought Chainalysis’ $$ 30 million Series B round in 2019, in addition to Blackstone, Dragoneer and FundersClub. Bank of recent You are able to Mellon and Emergence Capital also participated as a whole as first records.
Based on the announcement, the funds is going to be employed to enhance product innovation and scale global operations — developing upon the present subscriber base of 750 corporations across 70 countries.
We are happy to announce a $170 million Series F financing brought by GIC, Singapore’s sovereign wealth fund, with participation from your existing investors, getting our valuation to $8.6 billion. https://t.co/SOt4v46HCM pic.twitter.com/jJHDumzJfd
— Chainalysis (@chainalysis) May 12, 2022
Operating an application like a service (SaaS) business design for global corporations and governmental institutions, Chainalysis is well-recognized on the consumer level because of its quantitatively insightful reports around the decentralized finance (DeFi) sector, frequently by having an natural concentrate on financial security.
A recently formalized person in the Crypto Market Integrity Coalition alongside Coinbase, BitMEX, and Huobi Tech, amongst others, Chainalysis has outperformed the correcting sell to showcase the evergreen necessity for security and compliance inside the emerging financial sector of cryptocurrency.
Related: Crypto.com’s Cronos partners with Chainalysis to trace CRC-20 tokens
Chainalysis’ newest development was the development of an on-chain oracle screening software targeted at enhancing the strength of crypto exchanges in identifying and targeting malicious wallets and transactions.
Soon, a credit card applicatoin programming interface (API) services are likely to offer the prohibiting power exchanges against sanctioned wallet addresses having a view to deterring fraudulent activities within the space.
