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Chainalysis Raises $100 Million at More Than $2 Billion Valuation to Expand Enterprise Cryptocurrency Data Business

Series D Financing Led by Paradigm with Participation from Previous Chainalysis Investors

Chainalysis, the blockchain analysis company, announced it secured a $100 million Series D financing led by Paradigm, bringing its valuation to over $2 billion. Previous investors Addition and Ribbit increased their investment in the company, and TIME Ventures, the investment fund for Marc Benioff, also participated.

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Chainalysis’s proprietary cryptocurrency data powers its industry-leading investigations and compliance software, which enables government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering. This capital will be used to extend Chainalysis’s business to provide enterprise data solutions to:

  • Cryptocurrency businesses and financial services providers that want to optimize their market development strategies based on insights into their customers’ behaviors
  • Asset managers and financial institutions that want to better understand cryptocurrency market trends as institutional dollars flow into this increasingly mainstream asset class
  • Government agencies that need to identify and map connections across datasets to build comprehensive pictures of threat actors that abuse cryptocurrency
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“Paradigm is passionate about investing in companies that enable the future of money,” said Fred Ehrsam, Co-founder, Paradigm. “Chainalysis provides key data infrastructure and software for the cryptocurrency ecosystem, and as cryptocurrency adoption grows, so will demand for Chainalysis offerings.”

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“At Chainalysis we  believe that eventually  every company will use the blockchain to conduct their business,” said Michael Gronager, Co-founder and CEO, Chainalysis. “We’ve collected  more information about what happens on blockchains than anyone in the cryptocurrency industry. That information enables our customers to make better data-driven decisions. Our partners at Paradigm share our vision and understand that the data Chainalysis provides will enable accelerated adoption of cryptocurrency.”

“What makes cryptocurrency unique is its inherent transparency, and with the right data, businesses can gain valuable intelligence,” said Zac Prince, CEO, BlockFi. “Chainalysis is already able to provide us with data that delivers insights beyond compliance that can help inform our business development activities, tailor our offerings, and identify new revenue streams.”

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