Blockchain analytics firm Elliptic raises $60 million in Series C funding

Oct 11, 2021 | The Block News | 0 comments

blockchain-analytics-firm-elliptic-raises-$60-million-in-series-c-funding

Blockchain analytics firm Elliptic has raised $60 million in a Series C funding round.

The round was led by cybersecurity-focused venture capital firm Evolution Equity Partners, with participation from SoftBank Vision Fund 2.

Existing investors AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire, and Paladin Capital Group also backed the round.

As part of the deal, Richard Seewald, founder and managing partner at Evolution Equity Partners, has also joined Elliptic’s board of directors.

With fresh capital at hand, Elliptic plans to expand its team, particularly in the U.S. The firm’s current headcount is around 100, and it plans to increase it to about 150 by the end of the year, an Elliptic spokesperson told The Block.

The Series C round brings Elliptic’s total funding to date to $88 million. The firm has previously raised $28 million in two funding rounds, the spokesperson said. They declined to share valuation.

Elliptic rival Chainalysis recently hit a valuation of $4.2 billion after its $100 million Series E fundraise in June. Chainalysis has raised $366.6 million in total funding to date, according to Crunchbase.

Another blockchain analytics firm, TRM Labs, also recently raised $14 million in a Series A funding round. CipherTrace, on the other hand, was acquired by Mastercard last month for an undisclosed amount.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

U.S. Bitcoin futures ETF slated to list Monday

U.S. Bitcoin futures ETF slated to list Monday

The ProShares bitcoin futures-based exchange traded fund (ETF) is slated to list Monday pending no last minute regulatory interference. The firm filed a post-effective amended prospectus today stating its intention to launch on Oct. 18. It will list under the ticker...

Crypto finserve Bakkt to soon trade publicly on New York Stock Exchange

Crypto finserve Bakkt to soon trade publicly on New York Stock Exchange

From Oct. 18, Bakkt's common stock and warrants will be listed on NYSE under the ticker symbols “BKKT” and “BKKT WS” respectively. The public listing for Bakkt ticker comes as a result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose...

Pin It on Pinterest

Share This