On April 2, 2021, blockchain analytics startup Chainalysis raised nearly $ 100 million at a Paradigm-led fundraising event, bringing its valuation to over $ 2 billion.
Chainalysis aims to develop research software that helps financial regulators track statistics involving cryptocurrency usage. According to the Paradigm, government agencies want to learn more about cryptocurrencies and virtual money management.
Paradigm co-founder Fred Ehrsam said, “Paradigm is passionate about investing in companies that make the future of money possible …… .. Chainalysis provides important data infrastructure and software for the cryptocurrency ecosystem, and as cryptocurrency adoption increases, the demand for Chainalysis offers will increase. emphasizing.
Chainalysis’s plan to make blockchain systems reliable and secure as a financial network is seen as very important.
The startup believes everyone will use blockchain technology in their businesses. The analytics company also doubled the number of customers and hired more than 100 new employees last year. In addition, the venture doubled its annual recurring revenue, covered over 100 cryptocurrencies within ten blockchain networks, and expanded its partnership program with more than 50 new companies such as Flashpoint and Fireblocks.