ChanelLysis raises $ 170 million in 6th funding round with 8.6 billion valuation

Chainalysis, the New York-based blockchain data platform company, said Thursday it had raised $ 170 million in new funding, valued at $ 8.6 billion.

The funding round, the sixth since the company’s inception, is led by GIC, the sovereign asset fund of Singapore. Previous investors such as Blackstone, Bank of New York Mellon and Venture Capital Firm Assel also participated.

“A complete transformation is taking place where the world of finance operating system is moving to crypto. Our company will have a huge opportunity in this market, “Michael Gronagar, co-founder and CEO of Chanellysis, told Reuters in a phone interview. “We are growing in regions like Europe and Asia-Pacific. Until now, we had no presence in South America, so this is another area of ​​growth for us. Clearly, we are investing in international expansion, “he added.

Although government agencies have long acknowledged the importance of blockchain data and analytics, demand has reached new heights in the past year, with risk management and business intelligence products entering the cryptocurrency space from exchanges, decentralized finance platforms and financial institutions, the statement said. .

The growing acceptance and acceptance of crypto has led to greater regulatory screening, increasing demand from institutional users for channelization services. GIC and BNY Mellon confirmed their investment in channelization in a statement. Blackstone and Assel confirmed their investment in separate e-mails to Reuters.

“ChainLicease has a unique position in the SaaS (software as a service) business in the cryptocurrency space due to the stability of its business model as well as the growing demand for confidence and security in the industry as a whole,” said Chu Young Chin. , Chief Investment Officer of Private Equity at GIC. SaaS is also referred to as “on-demand” software. BNY Mellon says its investment in channelization is an already established and a “natural progression” of the “productive alliance”.

In June last year, chainlice, led by investment firm Kotu, raised $ 100 million.

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