The analytics company Elliptic closed a Series C financing round worth $60 million. It was led by Evolution Equity Partners.
BREAKING NEWS! We are thrilled to announce that we’ve closed a $60million fundraise to invest in making crypto even safer!
Get all the details here ➡️https://t.co/QTTeu8bhd6#makingcryptosafer #ellipticseriesc #crypto #futureofmoney
— elliptic (@elliptic) October 11, 2021
SoftBank via Vision Fund 2, AlbionVC, Wells Fargo, Santander, Octopus Ventures also participated in the round.
The raised capital will be allocated to research and development, expanding the team, and international expansion.
According to the press release, using a range of methods—from machine learning to infiltration into darknet markets—Elliptic created a “layer of identification” for blockchains. By correlating real-world signals with anonymous entities and events, the specialists develop risk analytics tools applicable to transactions, wallets, and institutions.
Elliptic emphasised the growing demand for its products among corporations as the capitalisation of cryptocurrencies rises and more players from traditional finance enter the space.
Earlier in September, Mastercard announced the acquisition of one of Elliptic’s competitors, CipherTrace.
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