Chainalysis raises $16M in new funding

Chainalysis, a virtual currency tracker and forensic tool provider has raised $16 million from Benchmark, according to a report by MSN, which said that the company hopes to use this funding to boost sales efforts and increase the number of virtual currencies it tracks.

Chainalysis provides its tools for law enforcement and for banking and financial compliance. The company unveiled its Know Your Transaction product in tandem with the funding announcement. KYT aims to help banks and exchanges track suspicious activity and comply with anti-money laundering laws.

Chainalysis has 70 employees with offices in the states of Washington and New York, and the city of Copenhagen, Denmark. The company expects to hire additional staff in the coming months.

Topics: Banking, Bitcoin, Blockchain, Cryptocurrency, Regulation, Security / Theft, Trends / Statistics

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