Blockchain forensics firm Chainalysis announced today that it had raised $100 million in investments to expand the scale of its operations.
This would be Chainalysis’ third round of funding in 6 years since its launch. Now, the company has achieved a valuation of over $1 billion.
Addition Leads Chainalysis’ Latest Funding Round
This Series C round was led by Addition, an investment firm founded by former Tiger Global Management investor Lee Fixel. Other previous investors also joined in, including Accel, Benchmark, and Ribbit.
Michael Gronager, Co-Founder and CEO of Chainalysis, spoke enthusiastically after the success of this round. He noted that these funds will help expand the company’s operations and benefit its investors, especially Addition, which injected the most considerable amount of money. All thanks to Chainalysis’ contracts with several private and government agencies in search of monitoring what happens in the blockchain:
Speaking about this funding round Gronager said on declarations compiled by an official PR:
“Government agencies and the private sector need the right data, tools, and insights to responsibly oversee and participate in the cryptocurrency economy. We have established a network of government agencies in over 30 countries and more than 250 of the most important businesses around the world. Our partners at Addition understand the power of our platform and are a natural partner for this next phase of growth.
And without a doubt, investors seem to have hit the mark. The company is growing rapidly, and it’s not failing to deliver. Although there are no official figures, Forbes estimates that Chainalysis accounted for about $8 million in profits during 2018, growing almost 100% in 2019 and expecting to report similar growth year after year until 2022.
