- Chainalysis has raised $100 million in a Series D fundraise.
- Paradigm conducted the fundraising program.
- Chainalysis will use its earnings to expand its investigations software services.
As a result, the new funding raised Chainalysis’s value to over $2 billion. Besides, not only Paradigm, other investment firms like TIME Ventures, Ribbit, and others also joined the funding event.
According to a report, Chainalysis will use the earnings to grow and expand its investigations software. Moreover, this will help financial services regulators to monitor digital asset use cases.
As per Paradigm, government agencies could even become interested in understanding digital currencies and virtual currency management.
Paradigm Co-Founder Fred Ehrsam said,
Paradigm is passionate about investing in companies that enable the future of money……..Chainalysis provides key data infrastructure and software for the cryptocurrency ecosystem, and as cryptocurrency adoption grows, so will demand for Chainalysis offering.
Also, Chainalysis believes that a day is coming where everyone will adopt blockchain for their P2P services. In fact, security is a big concern in the crypto industry. Recently Iphone users, for instance, lost crypto assets in a scam. For this reason, Chainalysis aims to make itself more reliable.
To achieve this, Chainalysis has increased its client number. Not only the clients, but the firm has also employed more than 100 news workers.