Chainalysis, a NYC-based provider of cryptocurrency compliance and investigation solutions, secured $30M in Series B financing.
The round was led by Accel with participation from Benchmark. In conjunction with the funding, Philippe Botteri, , partner at Accel, will join Chainalysis’s board of directors.
The company intends to use the funds for the strategic product development of new cryptocurrency usage and open an office in London that will act as a hub for its research and development lab and regional expansion.
Led by Michael Gronager, CEO and Co-founder, Chainalysis offers cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators, and businesses as they work together to fight illicit cryptocurrency activity.
Over the past year, the company has launched and deployed its real-time anti-money laundering and compliance software for cryptocurrencies, Chainalysis KYT (“Know Your Transaction”), and expanded its coverage beyond Bitcoin to include Ethereum, Litecoin, Bitcoin Cash, and stablecoins.
Over 100 financial institutions and cryptocurrency exchanges, including Binance, have signed up for Chainalysis KYT to automate the process of screening transactions and monitoring user activity.