Chainalysis raises $170M in Series F funding

Chainalysis, a Copenhagen Fintech alumni, just landed a $170M in a Series F led by Singaporean fund GIC. Accel, Blackstone, Dragoneer, Bank of New York Mellon and others also participated.

Just two years ago, the software-as-a-service giant achieved a Unicorn-status of $1B. With the new investment Chainalysis hit a valuation of $8,6B, effectively doubling its valuation for the third time in two years.

The blockchain firm uses analytics to make cryptocurrencies more transparent, enabling banks businesses and governments to understand how people use digital currencies. Its services have been used to solve some of the worlds biggest cyber criminal cases, through its tools in cybersecurity, investigation and compliance.

With the growing threat of scams and ransomwares, there's a stronger need than ever for investigatory tools. According to Chainalysis, their various tools monitor $1T worth of transactions every month, helping governments and private companies in tracking illicit crypto flows across transparent public blockchains:

- Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely, the blockchain analytics firm writes on its website.

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