Chainalysis, the blockchain analysis company has 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. 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.
Since Chainalysis extended its Series B to $49 million in July, the company had announced it increase in its number of customers by 65% to drive 100% growth in recurring revenue YoY in the third quarter of 2020. In addition it opened offices in Singapore and Tokyo .
“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.”
“Government agencies and the private sector need the right data, tools, and insights to responsibly oversee and participate in the cryptocurrency economy,” said Michael Gronager, Co-Founder and CEO, Chainalysis. “We have established a network of government agencies in over 30 countries and more than 250 of the most important businesses around the world who are making it safer and easier for consumers and businesses to transact, fundamentally changing the way money works. Our partners at Addition understand the power of our platform and are a natural partner for this next phase of growth.”