Chainalysis, a New York-based provider of compliance software to enable financial institutions and exchanges, to monitor cryptocurrency transactions, raised $16m in Series A funding.
Benchmark made the investment. In conjunction with the funding, Benchmark General Sarah Tavel is joining Chainalysis’ board.
The company, which has now raised $17.6m in total funding, intends to use the funds to continue to expand operations.
Founded in 2014 by Jonathan Levin, Jan Moller and Michael Gronager, Chainalysis provides financial institutions, cryptocurrency exchanges and government with a platform to prevent, detect and investigate cryptocurrency money laundering, fraud and compliance violations.
The company has a team of over 75 people across offices in New York, Washington D.C. and Copenhagen.