Chainalysis, a blockchain evaluation agency, has raised $200 million in a Collection B funding spherical led by Accel, with participation from Benchmark and different present buyers. The spherical values the corporate at $1.6 billion.
Chainalysis will use the brand new funding to develop its product choices and world attain. The corporate plans to double its headcount this 12 months to 400 staff.
Chainalysis gives software program that helps legislation enforcement and companies monitor and examine felony exercise on the blockchain. The corporate has been rising quickly, with income rising by 300% in 2018.
Chainalysis has raised a complete of $75 million from enterprise capitalists since its inception in 2014. The corporate has been worthwhile since 2017.
The blockchain evaluation market is predicted to develop from $96 million in 2018 to $1.2 billion by 2023, based on MarketsandMarkets.
What’s Chainalysis?
Chainalysis is a blockchain evaluation agency that helps legislation enforcement and companies monitor and examine felony exercise on the blockchain.
The corporate was based in 2014 by Jonathan Levin and Michael Gronager. Levin is a former software program engineer at Google and the co-founder of the now-defunct bitcoin trade Mt. Gox. Gronager is a software program engineer and the co-founder of the bitcoin mining pool BTC.com.
Chainalysis has raised a complete of $75 million from enterprise capitalists since its inception. The corporate has been worthwhile since 2017.
What Does Chainalysis Do?
Chainalysis gives software program that helps companies and legislation enforcement businesses monitor and examine felony exercise on the blockchain.
The corporate’s software program is utilized by over 150 organizations, together with the FBI, the US Division of Homeland Safety, and the IRS.
Chainalysis has three important merchandise:
Chainalysis KYT (Know Your Transaction): Chainalysis KYT is a real-time transaction monitoring instrument that’s utilized by companies to detect and forestall cash laundering.
Chainalysis Investigator: Chainalysis Investigator is a instrument that’s utilized by legislation enforcement businesses to research crimes involving cryptocurrency.
Chainalysis Reactor: Chainalysis Reactor is a instrument that helps companies and legislation enforcement businesses hint cryptocurrency transactions.
Along with its merchandise, Chainalysis additionally gives consulting providers to companies and legislation enforcement businesses.
What’s the Blockchain Evaluation Market?
The blockchain evaluation market is predicted to develop from $96 million in 2018 to $1.2 billion by 2023, at a compound annual development charge (CAGR) of 41.2%, based on MarketsandMarkets.
The most important drivers of the blockchain evaluation market are the rising want for compliance with anti-money laundering (AML) laws and the rising situations of cryptocurrency crimes.
The most important restraints of the blockchain evaluation market are the dearth of standardization of blockchain know-how and the dearth of expert personnel.
The most important alternatives within the blockchain evaluation market are the rising enterprise capital investments in blockchain know-how startups and the event of personal blockchain platforms.
What’s the Way forward for Chainalysis?
Chainalysis plans to make use of the brand new funding to develop its product choices and world attain. The corporate plans to double its headcount this 12 months to 400 staff.
Chainalysis can be increasing its product choices with the launch of Chainalysis KYT for Ethereum, which is able to assist companies monitor Ethereum transactions in real-time.
As well as, Chainalysis can be planning to launch a brand new product, Chainalysis Reactor, which is able to assist companies and legislation enforcement businesses hint cryptocurrency transactions.
Conclusion
Chainalysis is a blockchain evaluation agency that helps companies and legislation enforcement businesses monitor and examine felony exercise on the blockchain. The corporate has raised $200 million in a Collection B funding spherical
