Investments

Chainalysis gets funding from MUFG Innovation Partners and Sozo Ventures

April 16, 2019, 6:00PM EDT

Blockchain analysis company Chainalysis has received an additional $6 million investment in its Series B round from Japanese bank Mitsubishi UFJ Financial Group Innovation Partners and Sozo Ventures, Chainalysis announced in a press release. Closing the funding round, the company raised $36 million. Other investors include Accel and Benchmark.

The company will use the funding to open an office in the Asia Pacific region where the company does some of its work. According to the press release, the company doubled its number of APAC-based clients and increased the revenue from APAC clients more than 16 times.

"Cryptocurrency technology is global and inclusive by design," said Michael Gronager, Chainalysis CEO. "Our business was founded on the belief that in order for the industry to grow, all its stakeholders – governments, financial institutions, and cryptocurrency businesses – must be united in establishing ground truth for the industry. This strategic investment will strengthen our relationships with financial institutions in Asia in particular, and spearhead both our growth and the industry's advancement in an important region."

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