Crypto Sleuthing Firm Chainalysis Raises $100M, This Time at $4.2B Valuation

It’s the firm’s second $100 million raise this year.

AccessTimeIconJun 24, 2021 at 2:00 p.m. UTC
Updated May 9, 2023 at 3:20 a.m. UTC

Chainalysis has added another $100 million in venture capital as crypto's role in ransomware becomes a mainstream concern.

The firm announced Thursday that the Series E round of funding was led by Coatue Management and brings it valuation to $4.2 billion. Chainalysis also raised $100 million in a Series D funding round that was announced in March.

  • Meme Coin Liquidity Hits Record High
    Meme Coin Liquidity Hits Record High
  • How Ledger Stax Plans to Make Self-Custody More Mainstream
    How Ledger Stax Plans to Make Self-Custody More Mainstream
  • Why Dogecoin Is a 'Weird' Investment
    Why Dogecoin Is a 'Weird' Investment
  • AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
    AI Tokens Surge as Nvidia Becomes World’s Most Valuable Company
  • March's round, led by Fred Ehrsam's Paradigm, valued the blockchain tracking firm at $2 billion.

    The Chainalysis' new funding round is the latest in a trio of funding announcements in what's suddenly a high-profile corner of the crypto world.

    Firms like Chainalysis, CipherTrace, Elliptic, TRM Labs and Blocktrace help banks and law enforcement track illicit funds moving across public blockchains. Thanks to this so-called blockchain analysis, U.S. authorities were able to seize much of the bitcoin paid by Colonial Pipeline as ransom to the DarkSide hacking group.

    Such headlines have been a boon for recent fundraising efforts.

    CipherTrace raised $27 million, CoinDesk reported Tuesday, and TRM Labs brought in $14 million last week.

    Chainalysis may be the leader of the pack in terms of stature, and certainly it is in terms of capital raised: The firm said the latest round brings its total funding to $365 million.

    "The future of finance and national security will be based on blockchain data-driven decisions," Chainalysis CEO and co-founder Michael Gronager said in the press release. "We've harnessed the transparency of blockchains to provide actionable insights into markets, threats and business opportunities."

    Chainalysis is hiring for "hundreds of new positions," according to Thursday's announcement.


    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.