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.
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".
Excited to announce our latest funding round of $30m led by @Accel to support strategic product development of new cryptocurrency use cases and a new office in London! Read more: https://t.co/0Rn2li4wkO— Chainalysis (@chainalysis) February 12, 2019
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.
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