Chainalysis, one of the world’s largest crypto and blockchain intelligence firms, has raised $170 million in a Series F funding round led by GIC.
GIC is a Singapore-based sovereign wealth fund.
Chainalysis was founded in 2014. It provides software tools that helps detect and prevent crypto-related crime and money laundering.
Chainalysis has government agencies, financial institutions and private companies, including crypto exchanges and wallet providers as its clients.
The fresh funding doubles Chainalysis’ valuation, bringing it to a whopping $8.6 billion, including the investment.
Earlier this year, Chainalysis launched two new tools—an on-chain oracle and a public API—to make it easier to screen crypto wallets for sanctions compliance.
While it normally offers commercial products, the New York-based firm stressed that these tools are being provided to industry participants at no cost.