Singapore’s GIC leads $170m round of blockchain data major Chainalysis

Blockchain data firm Chainalysis has raised US$170 million in a series F round led by Singapore’s sovereign wealth fund GIC and joined by existing backers Accel and Blackstone. The round doubles the US-based firm’s valuation to US$8.6 billion, according to a statement.

Bitcoin mining / Photo credit: Wikimedia Commons

Chainalysis provides blockchain data, software, services, and research to cryptocurrency exchanges, government agencies, and cybersecurity firms, among others. The company offers services in over 70 countries, supporting compliance, investigation, and market intelligence services.

The blockchain data firm said it increased its customer count by 75% over the past year and now has more than 750 customers in 70 countries. Meanwhile, the number of customers who bring in US$100,000 each for the firm in annual recurring revenue went up 75% to 150 customers.

Chainalysis will use the new funds to invest in tech and scale its global presence to help meet customer demand. This effort includes continuing to build out its data platform to support new and enhanced risk management and business intelligence tools.

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The new raise follows Chainalysis’ US$100 million raise at a US$4.2 billion valuation in a previous round that saw participation from Coatue, Altimeter, Blackstone, GIC, and Sequoia Heritage.