Blockchain analysis company Chainalysis has secured a $8.6 billion valuation thanks to a $170 million Series F funding round led by Singapore's sovereign wealth fund, GIC.
Previous investors Accel, Blackstone, Dragoneer, and FundersClub increased their investment in the company, and the Bank of New York Mellon and Emergence Capital also participated in the round.
Chainalysis provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies, helping them to ensure cryptocurrency compliance.
Over the last year, the firm has increased its customer count by 75% and now has more than 750 clients in 70 countries. It has tripled its financial services user base, and now counts more than 100 FIs as customers.
As it added blue chip outfits like Robinhood, Bank of New York Mellon, Cross River Bank, Commonwealth Bank and NFT platform Dapper Labs, Chainalysis has also hired more than 450 people over the last 12 months, bringing its headcount to around 700. It currently has over 370 positions open.
“Over the past year, the cryptocurrency industry crossed into the mainstream with financial institutions entering the space and new technologies like NFTs disrupting traditional markets,” says Michael Gronager, Co-founder and CEO, Chainalysis.
“Our partners at GIC understand the power of Chainalysis’ data platform and customer network, the strength of our team of leaders, and the market opportunity before us."