Chainalysis raises $30 million in Series B funding

12 Feb, 2019 | Updated: 12 Feb, 2019
by David Robb
News
Chainalysis raises $30 million in Series B funding

Blockchain research startup Chainalysis has just completed its Series B round of funding. The company raised $30 million, most of which will likely go towards expanding its presence in the UK.

Chainalysis regularly publishes reports that are widely circulated in the crypto community, and it has contributed much important research about cyber-security. It recently launched a new KYT (Know your transaction) software tool for Bitcoin as well as Ethereum and Litecoin.

Read more: Chainalysis: two groups are responsible for stealing $1 billion in cryptocurrency

As reported by CoinDesk, the most recent round of funding was led by seasoned VC firm Accel and included additional investments from Benchmark, which led Chainalysis’ $16m Series A last April. According to CEO and co-founder Michael Gronager, "the investment and the timing of it shows that, despite fluctuating prices, there is quite a strong conviction among some very big VCs that this is not a short term play".

Chainalysis hopes to expand its operations in the UK, where it has already worked closely with leading retail bank Barclays. It will be opening a new office in London, which will be its second European office after Copenhagen, as well as a research and development lab. It will also be establishing partnerships with a major London university.

Read more: If I'm not a Bitcoin whale, then what am I?

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