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Chainalysis secures $170M in a funding round led by GIC

Updated: Jul 25, 2024
Published: May 11, 2022
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The crypto investigation and complaint services company Chainalysis has reportedly grabbed $170 million in a Series F funding round.

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Chainalysis achieves $8.6B valuation

As per the report by The Information, the sovereign wealth fund of Singapore, GIC, led the funding round. Chainalysis, which is recognized for its extensive investigations of unlawful crypto activities, has increased its valuation to $8.6 billion by securing the new fund.

The company had previously raised $366 million from investors like Benchmark, Accel, Paradigm, and Coatue. In 2020, it launched offices in Singapore and Tokyo to "double down" on its APAC presence, and it now serves clients from over 70 nations, including government agencies, exchanges, financial institutions, and cybersecurity firms. In November 2021, the company opened a new office in Canberra, Australia.

Recently, Chainalysis was in the headlines for supporting journalist Laura Shin in locating the suspect in the 2016 DAO breach, which resulted in the loss of $11 billion in Ethereum. In October, one of the foremost companies in the NFT industry, Dapper Labs, joined hands with Chainalysis to improve its security in the NFT business. 

Funding craze

Some investors are concerned that the ongoing crypto crisis may dampen the space's funding craze, but things were still looking up in the first quarter. In recent times, the crypto market has seen some massive funding rounds. KuCoin's market capitalization jumped to $10 billion this week after a $150 million fundraising, as Cryptonary reported. Amber Group, a Singapore-based crypto trading and asset management business, is reportedly raising a new round at a valuation of $10 billion. 

Last week, American venture capital firm Andreessen Horowitz (a16z) announced that it has allocated $500 million to invest in Indian crypto startups.

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