Blockchain analysis firm Chainalysis recently added $ 100 million to its accounts through investments from a number of parties, including Salesforce CEO Marc Benioff.
In a CNBC report on Friday, Michael Groeniger, CEO of Chainales, suggested that the success of this fundraising round was driven by a sense of “increased momentum” in the cryptocurrency space.
“Chainalysis, a blockchain analytics company, announced that it has received $ 100 million in Series D financing led by Paradigm, raising its valuation to more than $ 2 billion,” the company said in a statement to Cointelegraph on Friday. “Previous investors in Addition and Ribbit have increased their investment in the company, as have TIME Ventures, Marc Benioff’s investment fund.”
When asked how the project intends to use the newly acquired funds, Maddy Kennedy, Senior Director of Communications at Chainalysis, told Cointelegraph, “We are using the money to expand our data offering,” adding:
“We will continue to invest in investigation and compliance programs, but we will also develop new computer products for both our existing customer base and new target groups.”
Kennedy said Chainalysis will also focus on cryptocurrencies, asset managers, financial service providers, government agencies and more while building new solutions.
Since the advent of cryptocurrency more than a decade ago, governments have expanded their activities in the industry to provide greater clarity and compliance. Kennedy appears to believe that a certain level of government oversight is beneficial for technology adoption:
“Working with government agencies and demonstrating the transparency of cryptocurrencies has helped make cryptocurrency popular. When regulators and law enforcement agencies are happy with the cryptocurrency, financial institutions and large corporations can invest in it as well. We are proud to work with our clients and partners from government and business to make the cryptocurrency a part. Legitimate and trusted global financial system.
Back in September 2020, Chainalysis won a $ 625,000 deal with the IRS for services that track Monero (XMR) transactions that focus on anonymity.