Blockchain data analytics firm Elementus has raised $10 million in a Series A extension round at a $160 million valuation, according to a press release. The funding comes a little more than a year after Elementus raised $12 million at a $52 million valuation, a notable valuation leap during a crypto bear market in which fundraising in January fell 91% year over year. The capital from the ParaFi Capital-led round will go toward hiring and new product development.
"Last year has thrown into the limelight the tremendous importance of comprehension, auditability and transparency of blockchains," said Elementus CEO Max Galka in the press release. "As the broader crypto industry seeks to emerge from a tough year, it will be critical to do so in a way that foments trust, reliability and security among both users and businesses operating in this still-nascent market. This new strategic investment from ParaFi allows us to continue building the world's most advanced industrial-grade blockchain data solutions in the world that will help return confidence and transparency to blockchain-based businesses.”
Elementus creates blockchain compliance and data analytics solutions tailored toward government agencies, financial institutions, researchers and investors. The company helps organizations investigate suspicious on-chain activity, identify risks and discover market intelligence.
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