We’re thrilled to announce that we’ve completed a new round of fundraising. Through this process we’ve raised $100 million and Chainalysis is now valued over $2 billion. We’ll use the funds to accelerate business growth, expand our product portfolio and continue our mission to build trust in blockchains. This latest round was led by Paradigm, with participation from TIME Ventures, the investment fund for Marc Benioff, and previous investors Addition and Ribbit.
Today’s milestone was made possible by years of hard work by the many early believers who’ve brought cryptocurrency into the mainstream. Chainalysis is proud to have collaborated with our many customers and partners across government and commercial enterprise to make cryptocurrency a legitimate and trusted part of the global financial system.
If you’ve been skeptical of cryptocurrency, then the first quarter of 2021 likely changed your mind. In just a few months, the price of Bitcoin surpassed $60,000 for the first time. Major corporations including Tesla and Square added it to their balance sheets. After years on the sidelines, Wall Street began to enter the market with Morgan Stanley offering clients access to Bitcoin funds. Canada approved cryptocurrency ETFs (exchange-traded funds). Even Christie’s, the auction house founded in 1766, sold a digital art NFT (non-fungible token) for $69 million worth of Ether. But even this is really just the beginning of a decades long modernization of the financial system.
So where does Chainalysis go from here?
First and foremost, we will continue to provide outstanding support to our amazing customers. We will continue to lead the market for blockchain analysis, investigation, and compliance software with the best data on illicit cryptocurrency activity. Powering the regulatory infrastructure of the industry is the heart of our business and our team works everyday to protect the ecosystem.
Second, we will also expand our product portfolio to provide new data solutions. As a digitally native asset class, cryptocurrency provides the opportunity to analyze assets in entirely new ways. We’re building solutions for:
- Cryptocurrency businesses and financial services providers that want to optimize their market development strategies based on on-chain customer behaviors
- Asset managers and financial institutions that want to use on-chain data to discover crypto investing opportunities
- Government agencies that need to connect on-chain activity to other data sets
Third, we’re hiring across all parts of the organization and particularly our engineering and field organizations. If you’re passionate about cryptocurrency and want to build the future of financial analytics, you can see open roles on our job board.
We’re incredibly grateful to our customers for their support in our journey so far, and can’t wait to share what’s next!