Chainalysis raises $170 million in fresh financing round, bringing its valuation to $8.6 billion

The blockchain analytics company Chainalysis completed Series F financing round, more than doubling its valuation.

Swimming against the tide of a global crypto crash, Chainalysis announced the completion of a fresh round of financing led by GIC, a sovereign wealth fund located in Singapore. The blockchain data platform managed to raise $170 million, $70 million more than in Series E executed in June 2021. After Series F, Chainalysis’s valuation, which previously sat at $4.2 billion, has more than doubled, jumping to a total of $8.6 billion.

Series F makes Chainalysis the largest enterprise software-as-a-service company in the crypto industry. According to a statement, in the past year Chainalysis’s customer base counted over 100 financial institutions as the platform focused on data related to crypto crime, digital assets security, sanctions evasion, and risk management.

Series F attracted previous investors like Accel, Blackstone, Dragoneer, and FundersClub, as well as the Bank of New York Mellon and Emergence Capital. Chainalysis vowed to use the funds to “invest in product innovation and scale its global operations.”

The news sets the stage for Chainalysis’s upcoming annual conference, Links, which takes place on May 18-19 in New York. Links is expected to focus on digital security and crypto regulation, with New York City Mayor Eric Adams, Solana co-founder Raj Gokal, and the Commodity Futures Trading Commission’s Acting Chairman Rostin Behnam among the expected speakers.