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Chainalysis Raises $170 Million in Series F, Doubles Valuation to $8.6 Billion

San Francisco – May 13, 2022 – Cooley advised Chainalysis, a blockchain data platform, on its $170 million Series F preferred stock financing round, bringing its valuation to $8.6 billion – up from $4.2 billion following its Series E preferred stock financing round last year. Lawyers Andrew Gunther, Jodie Bourdet and Darwin Ng led the Cooley team advising Chainalysis.

With this new funding, Chainalysis becomes the largest enterprise software as a service company in the cryptocurrency industry. The company will use the funds to continue to invest in product innovation and scale its global operations to meet customer demand as the cryptocurrency asset class gains mainstream acceptance.

“Over the past year, the cryptocurrency industry crossed into the mainstream with financial institutions entering the space and new technologies like NFTs disrupting traditional markets,” Michael Gronager, co-founder and CEO of Chainalysis, said in a press release.

Cooley has represented Chainalysis in its previous financings, from its seed round to its $100 million Series C preferred stock financing, which propelled the company to unicorn status, to this latest round.

Founded in 2014 by Gronager and Jonathan Levin, and headquartered in New York City, Chainalysis provides data, software, services and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in 70+ countries. The company’s data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and safely grow consumer access to cryptocurrency.

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Related Contacts
Andrew Gunther  Associate New York
Jodie Bourdet  Partner San Francisco
Darwin J. Ng  Associate New York
Margaret D. Suh  Associate New York
Kevin King  Partner Washington, DC
Christopher Kimball  Partner Washington, DC
Sharon Connaughton  Special Counsel Washington, DC
Bridget R. Reineking  Special Counsel Washington, DC
Jayne M. Munger  Associate New York
Karen Tsai  Special Counsel Washington, DC
Rebecca Ross  Special Counsel Washington, DC
Sarah Oliai  Associate Washington, DC
Scott D. Rudin  Associate New York
Dillon Martinson  Special Counsel Washington, DC