Blockchain analytics firm Chainalysis has secured $100 million in Sequence E financing, bringing its complete valuation to a staggering $4.2 billion and highlighting as soon as once more the great development of the cryptocurrency business. 

The spherical was led by world funding supervisor Coatue, with extra participation from 9Yards Capital, Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage and SVB Capital, Chainalysis announced Thursday.


Chainalysis stated the funds will go towards increasing its blockchain knowledge capabilities, which incorporates investing in new knowledge instruments, software program and APIs.

“We consider blockchain knowledge is the asset that may assist private and non-private sector organizations perceive the dangers and alternatives surrounding this asset class and promote its adoption safely and efficiently,” the corporate stated.

Chainalysis’ valuation has greater than doubled within the final quarter because of a number of strategic investments. As Cointelegraph reported, the corporate closed out a $100 million Series D round in March led by Paradigm, a crypto-focused funding agency. On the time, Chainalysis’ director of communications Maddie Kennedy advised Cointelegraph that the funds will likely be used to develop the corporate’s enterprise knowledge providing.

Associated: Crypto-finance company Amber Group valued at $1B following $100M raise

Mega-million-dollar funding rounds have turn out to be commonplace within the cryptocurrency business over the past six months. Enterprise corporations have poured billions into crypto startups this 12 months alone, with the likes of Andreessen Horowitz going a step additional by announcing a new $2.2 billion crypto venture fund.

What’s extra, dealmaking appears to be occurring regardless of present market circumstances, which marks an vital evolution from the 2017 bull market that noticed enterprise funding dry up as soon as the initial coin offering mania light.