The blockchain intelligence firm defies the current bearish market trend by securing funding at double the valuation.
Chainalysis Raises $170 Million at $8.6 Billion Valuation: Report
Blockchain intelligence startup Chainalysis has raised $170 million at a valuation of $8.6 billion, double from $4.2 billion in June last year.below $30,000 on Monday, many believed that the rush of investors backing up crypto startups seen last year might cease. But Chainalysis in the latest round has seen its valuation increasing twofold, suggesting that investors are still favoring businesses in the crypto space.
In June last year, the company raised $100 million led by Coatue Management in Series E funding at $4.2 billion in valuation, and in March 2021, $100 million in Series D financing at over $2 billion in valuation.Before the latest round, Chainalysis received $336 million in investments from Benchmark, Accel, Paradigm, and Coatue.The blockchain intelligence platform tracks data and transactions in the crypto space and provides intelligence to its clients.
In its latest report, Chainalysis said the NFT market has seen rapid growth in the first 4 months of 2022. Despite a bearish trend in the broader crypto market,SPECIAL OFFER
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