Crypto Analytics company Chainalysis intends to raise $100 million at a valuation of $1 billion, according to Forbes.
The series C investment round is expected to be led by venture capital firm Addition, with participants including Accel, Ribbit Capital and Benchmark Capital. According to the source, the agreement "was signed by all contractors and is awaiting final execution."
Various firms and government agencies use tools to track and analyze cryptocurrency transactions from Chainalysis. The company has played an important role in several large investigations, where he was involved in cryptocurrency. So, at the beginning of the month, it became known that the US Department of justice resorted to its help to track the movements of $1 billion in bitcoin related to the illegal darknet marketplace Silk Road.
In addition, Chainalysis is the owner of multimillion-dollar contracts with the us authorities. Last week, the company announced the launch of a product that will help its clients in government agencies to liquidate confiscated cryptocurrency. Chainalysis also regularly publishes reports on activity in the cryptocurrency space. For example, she recently shared her observations that institutional investors played a significant role in the recent rise in the price of bitcoin.
Chainalysis has hinted at the possibility of buying another company from its industry in the coming weeks. The firm's customer base increased by 65% from the third quarter of 2019 to the third quarter of 2020. Forbes forecasts that Chainalysis revenue will double in 2021, followed by a further double in 2022.