September 27, 2021

Chainalysis has crypto’s ‘heightened momentum’ to thank for multibillion-dollar valuation

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Blockchain analytics firm Chainalysis recently added $100 million to its books thanks to investments from a number of parties, including Salesforce CEO Marc Benioff.

In a report from CNBC on Friday, Chainalysis CEO Michael Gronager suggested that the success of this fundraising round was due to a feeling of “heightened momentum” in the cryptocurrency space.

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

When asked what the project intends to use its newly acquired funds for, Chainalysis’ senior director of communications, Maddie Kennedy, told Cointelegraph, “We’re using the funds to expand our enterprise data offering,” adding that:

“We’ll continue to invest in investigations and compliance software, but we’ll also build out new data products both for our existing customer base and new audiences.”

Chainalysis willTitle: Chainalysis has crypto’s ‘heightened momentum’ to thank for multibillion-dollar valuation
Sourced From: cointelegraph.com/news/chainalysis-has-crypto-s-heightened-momentum-to-thank-for-multi-billion-dollar-valuation
Published Date: Fri, 26 Mar 2021 19:47:24 +0000

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