Accel in $30m series-B round for Chainalysis

Existing investors also took part in the round. Accel partner Philippe Botteri will join the company’s board.

The capital was taken from Accel London V, a fund that held its first and final close in 2016 on €500m. Its broad investment remit is within the technology space; it targets companies operating in the software-as-a-service, e-commerce and IT sectors. The fund makes early- and growth-stage investments with a focus on the UK market.

With the capital, the company will open an office in London and double its headcount there. The company also plans to expand into APAC. The company is planning to build a team to focus on investigating criminal activity and will continue to expand into different coins and tokens as well.

Previous funding
Teschstars led a first funding round for an undisclosed amount in 2015.

Berlin-based VC Point Nine Capital led another seed round for $1.6m in 2016. The VC was joined by Techstars, FundersClub, Digital Currency Group and CVP.

Benchmark led a $16m series-A for the company in April 2018 and was joined by Digital Currency Group and CVP.

Company
Founded in 2014, Chainalysis creates software to investigate fraud and comply with regulations in relation to cryptocurrency. The company currently has offices in New York City, Washington DC and Copenhagen. Its clients are mainly governments and financial institutions.

People
Accel Partners - Philippe Botteri (partner).
Chainalysis - Michael Gronager (co-founder and CEO).

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