Chainalysis Profiting Off The Cryptocurrency Market Boom

The success story of many Blockchain infrastructures has been credited by crypto analysts to be affiliated to the Blockchain space boom. However, those claims are not far from the truth, as the cryptocurrency space has witnessed many Blockchain-related service firms’ uprising. Chainalysis, a Blockchain data analytics firm that provides bespoke Blockchain services to financial institutions, Blockchain service firms, and a host of other business bodies in many nations, is one of the biggest beneficiaries of the crypto boom. The analytics firm is now worth $2 billion in valuation and is poised to be one of the Blockchain boom’s biggest beneficiaries.

Chainalysis now valued at $2 billion

The Blockchain analysis company had recently raised $100m in new funding series, an investment that places its value at $2 billion. However, as explained by its CEO- Micheal Gronager, the feeling around the company is that the success story of the overall Blockchain network is the reason why many investors have committed funds to the company.

The $100 million Series D funding round was led by crypto investment firm- Paradigm, which had the footprints of many prominent venture capitals like TIME ventures and Salesforce. Gronager also confirmed that previous investors in the company had also re-committed funds into the firm, as the firm will now realize its ambitions of becoming a Blockchain superpower.

However, the Executive also confirmed that a large part of the new funding would cater to expanding the Blockchain analytics firm service offerings. He believes that their large clientele base, which comprises asset managers, financial service providers, government agencies, and a host of other affiliate Blockchain firms, will be getting more value-added service from the firm. According to the Executive, the Blockchain Analysis firm will also be looking to expand their enterprise data solution offerings, as they believe that such innovations will delight its customers.

Chainalysis focused on expansion with new funding

Speaking to the press after the funding, Maddie Kennedy, the company’s communication director, expressed his delight in the new funding. Kennedy shares the same thought as Gronager, as he believes that the new funding will assist the company in incorporating innovative services into its pipeline.

Kennedy believes that Chainalysis has been able to thrive on the relevance of the Blockchain space. The Executive also confirmed that the company would continue to assist government agencies and related bodies with required services and information to aid the regulation and adoption of cryptocurrencies.

However, the words of both Kennedy and Gronager points towards the same direction of many analysts who believe that Chainalysis has profited off the boom of the Blockchain space. However, with the new $100 million in the bag, many, especially within the crypto space, will be expecting that the Blockchain analysis firm makes the most use of the new investment.

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