Chainalysis, the blockchain analysis company has recently raised $100 million during its Series E funding round led by Coatue and now stands at a valuation of $4.2 billion. The latest addition to its funds will be utilized for covering a broad range of cryptocurrencies including decentralized finance tokens. Blockchain Investigator Chainalysis Raises $100 Million As revealed by the firm, the funding will be used in the development of new software solutions for both the public and private sector organizations. Back in the month of March, the company managed to raise $100 million in Series D financing, which drove its valuation to $2 billion. Following the Series C round which was held back in the month of November, the firm became a unicorn. In addition to this, it should be noted that the investigating firm provides data insights to the regulatory authorities, businesses based on crypto, and institutional investors involved with the cryptocurrencies to let them detect and probe into dealings. Well, talking about the latest funding round, it came after ransomware attacks became a threat to national security in the United States. More About The Blockchain Sleuth Discussing further the blockchain sleuth, the firm is well known for developing trust in the crypto space as the investigator and an acquiescence software that allows the government agencies and private sector businesses across the world to identify and avert cryptocurrency crimes and money laundering. Kris Fredrickson, the Managing Partner at Coatue said: “Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market. 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.”
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