Chainalysis Raises Additional $14 Million in Series B Funding Round

Chainalysis, a blockchain analysis company, has raised $13 million in the latest version of its Series B funding round, totaling to $49 million for this entire round overall, a press release notes.

This latest earn was funding by Ribbit Capital and Sound Ventures. The previous $36 million was from groups like Accel and Benchmark from last year.

On top of this, the General Partner at Ribbit Capital, Sigal Mandelker, will now be an advisor to Chainalysis. Mandelker also has experience as an Under Secretary for Terrorism and Financial Intelligence at the U.S. Department of the Treasury.

This experience will be especially useful because Chainalysis is planning to expand its focus on the governmental side of crypto. “When law enforcement and regulators become comfortable with cryptocurrency, exchanges are able to grow and financial institutions can enter the ecosystem safely and responsibly,” the release notes.

Chainalysis has showcased this interest before with products like its Chainalysis Reactor, which provides “insights into how and why people move money across the world and growing revenue from new government customers by almost 400%.”

Speaking on the matter is Michael Gronager, the CEO and co-founder of Chainalysis, who said:

“Chainalysis is founded on the belief that providing data insights into cryptocurrency activity will unite government agencies, exchanges, and financial institutions to fuel the industry’s growth. Ribbit Capital’s deep fintech, cryptocurrency, and government experience and Sound Venture’s commitment to creating safer digital environments through enterprise software make them natural partners as we continue our high-growth trajectory and global expansion.”