Chainalysis, a blockchain forensic firm, has doubled its valuation to $8.6 billion with the latest $170 Series F funding round led by GIC, Singapore's sovereign wealth fund. The firm said in a blog announcement other investors such as Accel, Blackstone, Dragoneer, FundersClub, the Bank of New York Mellon and Emergence Capital have also participated.
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The New York-based firm noted it is now the "largest enterprise SaaS [Software-as-a-Service]" provider in the cryptocurrency industry. Chainalysis says it will use the proceeds to continue to invest in product innovation as well as scaling its global operations to "meet customer demand as the asset class gains mainstream acceptance."
In October last year, Chainalysis listed bitcoin (EXANTE: Bitcoin) into its balance sheet as part of long-standing partnership with NYDIG. The firm said back then it would buy the cryptocurrency through NYDIG's brokerage services. While the amount of Chainalysis' allocation in bitcoin remains undisclosed, Michael Gronager, Chainalysis CEO, said that the firm plans tp continue to "pursue other digital assets as potential future investments."
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