Blockchain analysis startup Chainalysis Inc. said today that it has raised $100 million in new funding to execute its vision as the blockchain data platform for cryptocurrency, including increasing its headcount.

Coatue led the Series E round. Other investors included Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, 9Yards Capital, Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage and SVB Capital. The funding was raised at a valuation of $4.2 billion.

Founded in 2014, Chainalysis offers a blockchain intelligence platform that helps customers prevent, detect and investigate cryptocurrency money laundering, fraud and compliance violations. The company’s platform allows customers to visualize and investigate the source and destination of suspicious transactions across blockchain-based cryptocurrencies. Using the platform, companies can detect suspicious activity and emerging threats from the dark web and investigate the illegal sale of customer data and ransomware cases in-house.

Chainalysis pitches itself as the leading blockchain investigation and compliance software provider for government agencies and the private sector. The company has been systematically collecting information that links real-world entities to blockchain transactions since 2013, giving it eight years of data to provide industry-leading results.

The new funding will go to develop more features. Chainalysis is planning to deepen its data advantage by covering more cryptocurrencies, focusing on emerging use cases such as DeFi and launching a Global Intelligence function to more quickly identify warning signs for potential threats and reduce time to response.

On the software side, the company wants to develop collaboration tools in its suite of software solutions so that public and private sector teams can work together from the same data set with a consistent, shared understanding.

Chainalysis is also aiming to increase access through application programming interfaces so government agencies, financial institutions and cryptocurrency exchanges can combine Chainalysis data with information from within their enterprises to make better decisions.

“The future of finance and national security will be based on blockchain data-driven decisions,” Michael Gronager, co-founder and chief executive officer of Chainalysis, said in a statement. “We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats and business opportunities.”

Including the new funding, Chainalysis has raised $365 million to date. Previous funding rounds include $100 million in March and $20 million in February 2019.

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