Chainalysis, the blockchain and cryptocurrency data analytics firm, announced today that it has raised US$100 million in a Series E funding round with a US$4.2 billion valuation.

Fast facts:

  • Headquartered in New York, Chainalysis provides blockchain-based software that enables governments and businesses to detect and prevent cryptocurrency crime and money laundering.
  • Chainalysis’ series E round was led by investment firm Coatue Management LLC with Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, 9Yards Capital, Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage and SVB Capital participating.
  • “Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market,” said Kris Fredrickson, managing partner at Coatue. “As cryptocurrency adoption grows, we believe that financial institutions, government agencies, and cryptocurrency businesses will increasingly deploy Chainalysis’s platform to make important decisions — from figuring out the best way to dismantle the operations of a threat actor to deciding which new cryptocurrency products are likely to drive the most demand.”
  • Chainalysis says the new funding will enable the company to improve its product offerings as well as grow its operations in Singapore, Korea and Japan as well as expand elsewhere in the Asia-Pacific region. Chainalysis expects these investments to drive its year-on-year revenue growth over 100%.
  • In its “Bitcoin Gains by Country: Who Benefited the Most from the 2020 Boom?” report published this month, Chainalysis found that the United States dominated Bitcoin gains in 2020, with U.S. investors collectively making over US$4 billion in realized Bitcoin gains, more than three times the next highest country, China.
  • Vietnam was a “perfect example” of countries outperforming in Bitcoin investment compared to traditional economic metrics, according to Chainalysis. Vietnam, which is categorized as a lower-middle income country by the World Bank and ranks 53rd in GDP at US$262 billion, has a high level of grassroots cryptocurrency adoption and ranked 13th in Bitcoin investment gains with US$351 million in 2020, outperforming countries that rank higher in traditional economic measures such as Australia, Saudi Arabia and Belgium, Chainalysis said.