Crypto chainalysis 100m series paradigm series

crypto chainalysis 100m series paradigm series

We will use this capital to execute our vision as the blockchain data platform for cryptocurrency. This means we are investing in:

  • Data. Our tools are only as good as our underlying data, and Chainalysis is the only company that has been systematically collecting information that links real world entities to blockchain transactions since 2013. We’re committed to deepening our 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. We’re continuing to invest in our investigations and compliance tools, as well as newer products like Market Intel.

“We’ll continue to invest in investigations and compliance software, but we’ll also build out new data products both for our existing customer base and new audiences,” Gronager said.

The company is particularly focused on building out its presence in the Asia-Pacific region.

“Cryptocurrency is global, and so is Chainalysis,” said Gronager.

To Chainalysis, cryptocurrencies present unprecedented transparency.

“They are the first global payment systems outside of any one organization’s control, but their blockchains create public, permanent records of all transactions, including illicit activity,” Gronager told TechCrunch.

Blockchain analysis comes in by helping people interpret those public blockchain ledgers.

We are also pleased to welcome new members of the Chainalysis team, including:

  • Chief Product Officer Pratima Arora, who joins from Atlassian where she was Head of Confluence product line
  • General Counsel Sarah Ward, who was previously General Counsel for SiSense
  • Director of Cyber Intelligence Rob Bone, who joins after a 20 year career in the FBI, most recently as Special Agent in Charge for Los Angeles, where he was appointed by the FBI Director to lead all counterintelligence and cyber investigations in Southern California

Thank you to our customers and partners for your continued work in making cryptocurrency a legitimate and trusted part of the global financial system.

If you’re interested in working at the intersection of technology, finance, and government, check out our open positions.

Crypto chainalysis 100m series paradigm series-03

This is not an overnight success story – rather a team that has built with a long run vision, through multiple crypto cycles, that has created a market leading position for themselves, with the opportunity to compound,” he added. “As cryptocurrency adoption grows, so will demand for Chainalysis offerings.”

As further evidence of a cryptocurrency boom, BlockFi earlier this month announced it closed on a massive $350 million Series D funding at a $3 billion valuation. The financial services company for crypto market investors offers a retail and institutional-facing suite of products.

Notably, BlockFi is also a Chainalysis customer.

Crypto chainalysis 100m series paradigm series1

This is not an overnight success story – rather a team that has built with a long run vision, through multiple crypto cycles, that has created a market leading position for themselves, with the opportunity to compound,” he added. “As cryptocurrency adoption grows, so will demand for Chainalysis offerings.”

As further evidence of a cryptocurrency boom, BlockFi earlier this month announced it closed on a massive $350 million Series D funding at a $3 billion valuation. The financial services company for crypto market investors offers a retail and institutional-facing suite of products.

Notably, BlockFi is also a Chainalysis customer.

Crypto chainalysis 100m series paradigm series5

Cointelegraph Research showed over $14.6 billion was poured into crypto infrastructure, non-fungible tokens (NFTs), decentralized finance (DeFi) and other web3 startups in Q1, which accounted for nearly half of last year’s total funding.

Indeed, we’ve seen some mega funding rounds in recent times. Singapore-based crypto trading and asset management startup Amber Group is reportedly raising a new round at a $10 billion valuation; 11 months ago it had just reached the unicorn status in a $100 million financing round. Crypto exchange KuCoin’s valuation surged to $10 billion in a $150 million raise announced this week.

Added company operational data on May 12.

Barclays and cryptocurrency businesses like Gemini, Bitstamp and BitPay.

Co-founders Michael Gronager and Jonathan Levin; Image courtesy of Chainalysis

Chainalysis’ self-described mission is “to build trust in blockchains to promote more financial freedom with less risk.”

The company says its data platform powers investigation, compliance and risk management tools “that have been used to solve some of the world’s most high-profile cyber criminal cases and grow consumer access to cryptocurrency safely.”

Chainalysis operates under the belief that eventually every company will use the blockchain to conduct their business, according to co-founder and CEO Michael Gronager.

“We’ve collected more information about what happens on blockchains than anyone in the cryptocurrency industry,” he said.

Chainalysis Valued at USD 2B as Investors See Demand For Crypto Intelligence

US_based major blockchain analysis company Chainalysis announced today that it has raised USD 100m, bringing its valuation to over USD 2bn.

The company said that the Series D financing round was led by Paradigm, while previous investors Addition and Ribbit increased their investment in the company. Additionally, TIME Ventures, the investment fund for Marc Benioff, participated as well.

This follows Chainalysis’ USD 100m Series C round in November 2020. Per Crunchbase, until November, the company had raised USD 166m in total.

With this latest round, it would presumably make USD 266m.

The company said that the new capital will be used to extend its business so to provide enterprise data solutions to:

  • crypto businesses and financial services providers that want to optimize their market development strategies based on insights into their customers’ behaviors;
  • asset managers and financial institutions that want to better understand cryptocurrency market trends given the increasing adoption of crypto;
  • and government agencies that work on building detailed pictures of threat actors that abuse crypto.

Over the past year, the company has increased its annual recurring revenue (undisclosed) by more than 100% year-over-year.

Chainalysis tools aim to help government agencies, cryptocurrency businesses and financial institutions understand which real-world entities transact with each other.

“For example, we can show that a given transaction took place between two different cryptocurrency exchanges, or between a cryptocurrency exchange and an illicit entity, such as a darknet market or a sanctioned organization,” Gronager said.

Paradigm co-founder Fred Ehrsam said his firm was drawn to the way Chainalysis provides key data infrastructure and software for the cryptocurrency ecosystem.

“The team knows the regulatory landscape better than anyone, has been refining their tools for years, and deeply know what their customers want.

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