Blockchain analysis firm Chainalysis has secured $170 million in a Series F funding round led by GIC, a sovereign wealth fund of Singapore. The latest deal doubles the $4.2 billion valuation the company last touched in June, when it raised a $100 million Series E financing led by Coatue Management. Chainalysis Doubles Its Valuation According to a report from the Information, Chainalysis saw its valuation double to $8.6 billion in a latest $170 million Series F funding round. Prior to this new round, the firm had raised $366 million from investors including Benchmark, Accel, Paradigm and Coatue. With the latest funding, the company plans to use the funds to deepen its data coverage by adding more cryptocurrencies and further develop its software. Blockchain Data Firms are Seeing More Demand Chainalysis provides blockchain analysis software to flag regulatory risks to cryptocurrency exchanges, government agencies and financial institutions. As cryptocurrencies are finding more acceptance globally in the last few months, blockchain data firms such as Chainalysis are seeing more demand for their services due to increased regulatory scrutiny as these currencies are highly volatile. The company also includes international offices in Singapore and Tokyo to “double down” on its APAC presence. As of today, Chainalysis’ clients include government agencies, exchanges, financial institutions, and cybersecurity companies across over 70 cou...
