Chainalysis Raises $100 Million in Series E, Plans Expansion To DeFi

chainalysis x coatue Crypto

Blockchain analytics and surveillance firm Chainalysis recently announced that it has closed $100 million after a Series E funding round led by Coatue. Participating investors include Benchmark, Accel, Addition, Dragoneer, Sequoia Heritage, and SVB Capital. 

The latest financing round brings the company’s valuation up to $4.2 billion, as it continues to expand resources and deepen its data stock to receive more analytics from an expanded portfolio of cryptocurrencies and widen its reach in specific use cases such as decentralized finance.

The Series E funding round comes at the heels of the firm’s Series D in March 2021, in which it also raised $100 million. The firm says that it will be focusing on three aspects of its expansion, with deepening its database as a priority.

Aside from expanding its portfolio of covered cryptocurrencies, the firm will also venture on analytics for decentralized finance (DeFi), a booming sector in the crypto and blockchain space.

“We’re committed to deepening our data advantage by covering more cryptocurrencies, focusing on emerging use cases like DeFi, and launching a Global Intelligence function to more quickly identify warning signs for potential threats and reduce time to response.” the firm claims.

The blockchain intelligence firm has also touted the development of new software solutions that will be released for both the public and private sector, including contracts for government agencies and regulatory bodies.

“[Chainalysis is] working on developing collaboration tools in our suite of software solutions so that public and private sector teams can work together from the same data set to reach a consistent, shared understanding.”

The blockchain analytics firm says that it will provide more direct access to its clients through the use of APIs, opening integrations to its intelligence processes, information archives, and applications.

“We’re also providing direct access to Chainalysis data through APIs so that government agencies, financial institutions, and cryptocurrency exchanges can combine Chainalysis data with information from within their enterprises to make better decisions.” the firm stated in a blog post.

Established in 2013, Chainalysis provides blockchain data to governments, institutions, and various cryptocurrency exchanges in over 60 countries across the globe. To date, the firm has raised some $365 million in funding.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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