Chainalysis, the leading blockchain analytics firm, has announced the closure of $100 million Series E financing.
The latest funding round brings the firm's total valuation to $4.2 billion. Major tech investment manager Coatue led this most recent round, which also saw participation from Chainalysis' longstanding investors.
Chainalysis provides software that traces and clusters cryptocurrency transactions on the blockchain, identifying possible risks and threat actors. It also produces research on growing trends. One of the oldest firms in crypto analytics, Chainalysis is also the biggest government contractor in the field.
The new valuation represents a $2 billion boost since the firm's last fundraise, which was only in March. That coincides with new interest in cryptocurrency tracking following high-profile ransomware events like Colonial Pipeline and JBS.
This same flood of interest has the Department of Justice stepping up its asset recovery capabilities. On Wednesday, leaders of the Department of Defense's cyber command appeared before the Senate Armed Forces committee's cyber subcommittee to testify as to growing ransomware use.