Copy link
Increase text size
Decrease text size
Link copied

Blockchain startup Chainalysis raises $30M in Series B round

Wed, 13 Feb 2019, 03:49 am UTC

Chainalysis, a New York-based startup which provides cryptocurrency compliance and investigation solutions, has raised $30 million in a series B funding round led by Accel.

The round also drew support from existing investor Benchmark, which led Chainalysis’ $16 million Series A round last April. Chainalysis had previously also secured $1.6 million in a seed funding round led by Point Nine Capital.

According to the official release, Accel’s investment was led by Amit Kumar and Philippe Botteri. Botteri will represent Accel on Chainalysis’s board of directors.

“Thanks to its deep crypto expertise and unique technology, Chainalysis has quickly become the industry benchmark for blockchain analysis and compliance technology,” said Botteri, partner at Accel and based in London. “Chainalysis’s vision is to make cryptocurrency compliance a new standard for financial services as the ecosystem matures. We look forward to supporting them across Europe, the U.S., and Asia,” added Amit Kumar, partner at Accel and based in Palo Alto.

Founded in 2014, Chainalysis offers tools to analyse bitcoin transactions on the blockchain. Over the past year, it launched and deployed its real-time anti-money laundering and compliance software for cryptocurrencies, Chainalysis KYT (Know Your Transaction).

The company said that it has expanded its coverage beyond Bitcoin to include Ethereum, Litecoin, Bitcoin Cash, and, more recently, stablecoins. More than 100 financial institutions and cryptocurrency exchanges, including Binance, have signed up for Chainalysis KYT to automate the process of screening transactions and monitoring user activity.

Chainalysis said that it will use the amount raised to support strategic product development of new cryptocurrency usage and open an office in London that will act as a hub for its research and development lab and regional expansion.

“While other companies in our industry are pulling back, Chainalysis is investing in building foundational technology for the future of cryptocurrency,” said Michael Gronager, CEO and Co-founder of Chainalysis. “We are focused on empowering new cryptocurrency use cases like stablecoins and supporting businesses and governments globally as cryptocurrency regulation becomes more defined.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $13,094.80 (-0.31%)
  • Ethereum (ETH) $409.18 (-1.08%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $271.89 (-0.89%)
  • Chainlink (LINK) $12.33 (-2.76%)
  • Bitcoin (BTC) $13,094.80 (-0.31%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft