According to The Information, blockchain data analytics company Chainalysis has raised $170 million in its latest investment round at a $8.6 billion valuation, more than tripling its $4.2 billion valuation from last June.
The Information report says that existing investor GIC is leading the Series F round. GIC is one of three investment firms in Singapore that handle the government’s reserves.
In its Series C round in November 2020, Chainalysis was valued at more than a billion dollars for the first time. This increased to more than $2 billion in March 2021, before tripling again in June of the same year during its Coatue Management-led Series E.
Chainalysis, located in New York, was founded in 2014 to give blockchain data and analysis to government agencies and private companies in order to prevent crime and money laundering. According to its Crunchbase profile, the latest round brings the total amount of money collected to $537 million.
Chainalysis isn’t the only firm with a big value these days. MoonPay was valued at $3.4 billion in November, CoinDCX in India was valued at $2.15 billion last month, and The Sandbox is reportedly targeting a $4 billion valuation.
According to Galaxy Digital research, VCs spent more than $33 billion on crypto and blockchain firms last year. Two-thirds of it went to fundraising rounds totalling more than $100 million. In the fourth quarter of 2021, crypto and blockchain values were 141% higher than the rest of the VC space.
Despite the market’s losses, values have continued to rise in 2022, according to Pitchbook. So far this year, late-stage, post-money valuations for VC-backed crypto firms have grown by an average of 91% to $3.95 billion.
