Blockchain Analytics Firm Elliptic Raises $60M to Fund R&D, Expansion

0
71

Elliptic, which helps observe transactions on blockchains, has raised $60 million in a Series C funding spherical led by Evolution Equity Partners. The cash might be used for analysis and growth (R&D) and worldwide development.

  • The funding may also assist with enlargement of Elliptic’s workforce, particularly within the U.S.
  • London-based Elliptic stated taking part buyers included SoftBank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group.
  • The fundraising underlines the mounting curiosity within the transaction-analysis business as firms try to adjust to anti-money laundering guidelines and observe the proceeds from profitable hacks. Last month, funds large Mastercard agreed to purchase CipherTrace for an undisclosed quantity. In March, Chainalysis, a peer whose consumer base contains authorities investigators, was valued at $2 billion in a Series D fundraise.
  • “The unique nature of crypto as a maturing asset class means there is a growing need for enterprise-grade compliance and transaction monitoring tools,” stated Neil Cunha-Gomes, investor for SoftBank Investment Advisers.
  • Elliptic, which was based in 2013, additionally stated Richard Seewald, the founder and managing associate at Evolution Equity Partners will be part of its board of administrators.
  • CoinDesk is a subsidiary of Digital Currency Group.

Read extra: Elliptic Is Mapping Bitcoin Stolen From 2016 Bitfinex Hack