Chainalysis: New investment round brings valuation to USD 1,000,000,000

With the analysis company Chainalysis, things continue to improve. Not only public authorities but the whole industry could benefit from this.

The expertise of the block-chain analysis company Chainalysis has long since become known to regulatory and law enforcement agencies. Chainalysis has already taken action against the supposed anonymity of Privacy Coins. The company has specialised in recording and closely examining block chain transactions. The results of the investigation are then passed on to governmental and regulatory authorities and financial institutions in 40 countries. The fight against crime is one of Chainalysis’ objectives, although not the only one. A recent study has also revealed that some 3.7 million BTC are lost forever.

Some black sheep in the crypto industry will therefore register with some uneasiness that Chainalysis was recently able to land 100 million dollars in a Series C financing round. This brings the value of the company to one billion US dollars. In the middle of this year, a Series B financing round of Chainalysis had already been extremely successful.

By cooperating with government agencies, Chainalysis does not only want to support the work against criminals. Rather, it also wants to dispel the prejudice that crypto-currencies are mainly used in semi-silent business. A healthy growth of the crypto sector requires knowledge of it among regulators, according to the philosophy of the company, which was founded six years ago.

Chainalysis could soon make an acquisition

Understandably, Michael Gronager, co-founder and CEO of Chainalysis, expressed great enthusiasm following the conclusion of the investment round. He noted that the funds will contribute to the expansion of the company’s business. Ultimately, the investors will also benefit. The lion’s share of the $100 million most recently raised is from addition. This is an investment company founded by former Tiger Global Management investor Lee Fixel. Other former investors also joined, including Accel, Benchmark and Ribbit.

According to media reports, as part of the investment Chainalysis plans to almost double its workforce over the next year. Among others, international politics, sales and marketing and research and development will receive more staff. Chainalysis currently employs around 200 people. Gronager indicated to Forbes magazine that the new capital might also be used to take over another company. This would strengthen the already strong market position of Chainalysis. For the crypto-sector, the consequences could be positive. There is no denying that the number of institutional investors in Bitcoin has never been higher than at present.