Blockchain data platform Chainalysis raises $100m in Series E round

Chainalysis has secured a $100 million Series E financing round led by Coatue.

The company says the round takes its total valuation up to $4.2 billion

The blockchain analysis firm aims to build trust in the cryptocurrency industry by providing data, research and compliance software to government agencies and private sector businesses to detect and prevent criminal activities and money laundering.

It says it will use the funds to “execute its vision as the blockchain data platform for cryptocurrency”.

More specifically, it will look to collect and provide more data on additional cryptocurrencies and DeFi applications, develop its suite of software solutions and provide access to Chainalysis data through APIs.

“The future of finance and national security will be based on blockchain data-driven decisions,” says Michael Gronager, co-founder and CEO of Chainalysis.

“Our partners at Coatue understand the power of our vision for the Chainalysis data platform and the software, access and services it powers.”

Chainalysis says this latest investment takes its total valuation to $4.2 billion, and brings its total amount raised to $365 million following its $100 million Series D round in March 2021.

“Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market,” says Kris Fredrickson, managing partner at Coatue.

“As cryptocurrency adoption grows, we believe that financial institutions, government agencies and cryptocurrency businesses will increasingly deploy Chainalysis’s platform to make important decisions – from figuring out the best way to dismantle the operations of a threat actor to deciding which new cryptocurrency products are likely to drive the most demand.”

The round included participation from Blackstone, Sequoia Heritage and SVB Capital, while a number of previous investors such as Benchmark, Accel and Dragoneer also increased their investment in the company.

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