Blockchain analytics firm Chainalysis has secured $100 million in Sequence E financing, bringing its complete valuation to a staggering $4.2 billion and highlighting as soon as once more the large progress of the cryptocurrency trade.
The spherical was led by international funding supervisor Coatue, with extra participation from 9Yards Capital, Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage and SVB Capital, Chainalysis announced Thursday.
Chainalysis mentioned the funds will go towards increasing its blockchain information capabilities, which incorporates investing in new information instruments, software program and APIs.
“We imagine blockchain information is the asset that may assist private and non-private sector organizations perceive the dangers and alternatives surrounding this asset class and promote its adoption safely and efficiently,” the corporate mentioned.
Chainalysis’ valuation has greater than doubled within the final quarter because of a number of strategic investments. As Cointelegraph reported, the corporate closed out a $100 million Series D round in March led by Paradigm, a crypto-focused funding agency. On the time, Chainalysis’ director of communications Maddie Kennedy instructed Cointelegraph that the funds will likely be used to develop the corporate’s enterprise information providing.
Mega-million-dollar funding rounds have grow to be commonplace within the cryptocurrency trade during the last six months. Enterprise corporations have poured billions into crypto startups this 12 months alone, with the likes of Andreessen Horowitz going a step additional by announcing a new $2.2 billion crypto venture fund.
What’s extra, dealmaking appears to be occurring regardless of present market situations, which marks an vital evolution from the 2017 bull market that noticed enterprise funding dry up as soon as the initial coin offering mania pale.