Chainalysis, the blockchain data platform has secured a $100 million Series E financing led by Coatue, bringing its valuation to $4.2 billion. Previous investors Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital increased their investment in the company, and Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage, and SVB Capital also participated.
As cryptocurrency becomes more mainstream, financial institutions are experiencing unprecedented demand for it, government agencies are prioritizing threats like ransomware that abuse it, and cryptocurrency exchanges are seeking a competitive edge. Blockchain data is the asset that can help public and private sector organizations understand the risks and opportunities surrounding this asset class and promote its adoption safely and responsibly.
Chainalysis will use this capital to execute its vision as the blockchain data platform for cryptocurrency, including:
- Data: Deepen its data advantage by covering more cryptocurrencies, focusing on emerging use cases like DeFi, and launching a Global Intelligence function to more quickly identify warning signs for potential threats and reduce time to response
- Software: Develop collaboration tools in its suite of software solutions so that public and private sector teams can work together from the same data set with a consistent, shared understanding
- Access: Provide direct access to Chainalysis data through APIs so that government agencies, financial institutions, and cryptocurrency exchanges can combine Chainalysis data with information from within their enterprises to make better decisions
“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 future of finance and national security will be based on blockchain data-driven decisions,” said Michael Gronager, Co-founder and CEO, Chainalysis. “We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities. Our partners at Coatue understand the power of our vision for the Chainalysis data platform and the software, access, and services it powers.”