![Chainalysis Raises $100 Million in Series D Funding Round](http://bitcoinworld.co.in/wp-content/uploads/2021/03/Chainalysis-Raises-100-Million-in-Series-D-Funding-Round-1024x538.png)
Blockchain analytics firm Chainalysis has raised $100 million in a Series D round. This funding round helps Chainalysis’s valuation to reach $2 billion. The private valuation comes hardly four months since the N.Y. company accomplished the ‘unicorn’ title for the first time when it raised $100 million in Series C financing in November. Paradigm led Chainalysis’s Series D funding round. It also witnessed TIME Ventures’ participation, the investment fund by billionaire investor Marc Benioff, including early stakeholders Addition and Ribbit.
Moreover, Chainalysis also raised $13 million in July 2020 to grow its Series B round to $49 million. The company has initially captured a $30 million investment in February 2019, led by Accel’s venture firm. It then raised an additional $6 million from two prominent Japanese investors in April. Chainalysis elucidated that it plans to employ the new investment to extend product portfolio to offer new data solutions to assist asset managers, governments, and businesses, distinctly based on-chain data.
Chainalysis Witnesses Consumer Growth by 65%
Established in 2015, it is one of the significant analytics firms in the crypto space. Besides tracking addresses, the firm also offers market, technical analysis reports and compliance software to circumvent crypto’s illegal use. Additionally, Chainalysis also offers its Bitcoin-tracing technology and compliance software to banks and brokers to observe and link digital identities to crypto.
The blockchain analytics firm advocated last month that the firm observed an increase in its number of customers by 65% yearly. It credits the reason behind the rise to higher demand for its investigative technology from public sector agencies. Moreover, it also admitted that it had doubled its quarterly revenues during the July-September period. However, it did not specify the exact figures and the number of profits.
Moreover, Chainalysis has helped the U.S. authorities to investigate and seize more than $1 billion worth of Bitcoin associated with the Silk road. It is the shady dark web marketplace that went offline in 2013. Moreover, the blockchain analytics firm also assisted the DOJ (Department of Justice) in identifying and investigate the crypto used in the Silk road case. The department estimates that the Silk Road produced approximately 6,00,000 Bitcoins in commissions for expediting narcotics sales of illegal drugs, weapons, and other nefarious goods.
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