Chainalysis valuation tops $2 billion after another funding round

Chainalysis has raised $100 million in a Series D round, valuing the firm at more than $2 billion.

The round was led by Paradigm, with participation from existing investors Addition Capital, Ribbit and Time Ventures, expanding their stakes in the company.

The raised capital will be used to expand its business and develop enterprise solutions for blockchain-data processing.

According to the company’s statement, over the past year:

• the client base and revenue more than doubled;
• the number of digital assets supported by its analytics tools surpassed 100, representing about 90% of cryptocurrency activity;
• its partner program expanded to more than 50 participants;
• the firm hired 116 new employees, including several senior executives.

In November 2020, Chainalysis closed a Series C funding round of $100 million, after which it was valued at more than $1 billion.

Earlier, the firm noted that growth driver of revenues was the “increased demand for tools to track cryptocurrency transactions to curb illicit activity” from U.S. authorities.

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