Blockchain Analytics Company Chainalysis Closes $100 Million Series E Funding Round at $4.2 Billion Valuation
Chainalysis, a leading blockchain analytics company, announced the closing of a $100 million Series E round led by tech hedge fund Coatue, with participation from long-term Chainalysis investors.
Leading blockchain analytics company Chainalysis announced the closing of a $100 million Series E round led by tech hedge fund Coatue, with participation from long-term Chainalysis investors, The Block reported on June 24. The round brings Chainalysis’ total valuation to $4.2 billion.
Chainalysis provides software for tracking and clustering cryptocurrency transactions on the blockchain, identifying potential risks and threats. Chainalysis is one of the most senior companies in crypto analytics and the largest government contractor in the industry.
With this round of funding, the company’s latest valuation has increased by $2 billion from its last funding round (in March only). This is likely due to the high demand for cryptocurrency tracking in the wake of high-profile ransomware incidents such as Colonial Pipeline and JBS.
Similarly, the U.S. Department of Justice has shown interest in increasing its asset recovery capabilities. On Wednesday, the head of the U.S. Defense Cyber Command testified about the growing use of ransomware during an appearance before the Senate Armed Services Committee’s cyber subcommittee.
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