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Chainalysis Secures $170M in Series F Funding Round, Pushes Company’s Valuation to $8.6B Valuation 

UTC by Ibukun Ogundare · 3 min read
Chainalysis Secures $170M in Series F Funding Round, Pushes Company’s Valuation to $8.6B Valuation 
Photo: Depositphotos

Singapore’s sovereign wealth fund, GIC, is the lead investor in the latest Chainalysis funding.

Software company Chainalysis has generated $170 million in a Series F funding round. Following the latest funding, Chainalysis is now valued at $8.6 billion. Notably, the valuation is X2 of what the company was worth when it held its Series E round in June 2021. Chainalysis raised $100 million last June, pushing its valuation to $4.2 billion. The Series E financing was led by Coatue, with support from both new and previous investors. The previous investors included Benchmark, Durable Capital Partners, 9Yards Capital, Dragoneer, Addition, and Accel. In addition, Chainalysis has expanded its operations by opening offices in Singapore and Tokyo. The company is popular for offering its services to law enforcement agencies in nabbing illicit crypto activities. Over time, Chainalysis has grown to serve government agencies, cybersecurity firms, financial institutions, and crypto exchanges in more than 70 countries.

A few months ago, Chainalysis got the credit for helping track a suspect involved in a 2016 DAO hack. The software company was acknowledged for helping journalist Laura Shin nab the suspect. The DAO hack resulted in the loss of $11 billion of ETH.

Chainalysis Raises $170M in Funding Round amid Buzzing Fundraisings

According to a reliable source, Singapore’s sovereign wealth fund, GIC, is the lead investor in the latest Chainalysis funding. The fundraising happened at a time when inverters are still counting their losses due to the crypto market crash. On Monday, Bitcoin’s price fell to its 10-month low of $30,000. The general stock crash has been a worry to investors. As crypto is performing poorly, tech stocks are also at their lows. Assumptions were that the crypto crash world would negatively affect the financing buzz. However, it appears the meltdown has got nothing on the funding rounds. According to Cointelegraph Research, non-fungible tokens (NFTs), crypto infrastructure, decentralized finance (DeFi), and other web3 startups recorded about $14.6 billion in funding in just Q1. The fund represents nearly 50% of the total financing in 2021.

Recently, there have been a lot of mega funding rounds that have resulted in enormous valuations for companies. Amber Group is now valued at $10 billion after gathering new funds in recently-completed rounds. This happened less than a year after it reached the unicorn status in a $100 million financing round. Also, crypto exchange KuCoin jumped to a $10 billion valuation after its first funding round in the last four years. The company generated $150 million in its pre-Series B funding. Jump Crypto led the round, with participation from Circle Ventures, IDG Capital, and Matrix Partners. KuCoin chief executive Johnny Lyu said the company wants to build KuCoin “into an open ecosystem and an open system needs to bring many friends on board.

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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