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


Elliptic, which helps track transactions on blockchains, has raised $60 million in a Series C funding round led by Evolution Equity Partners. The money will be used for research and development (R&D) and international growth.

  • The funding will also help with expansion of Elliptic’s team, especially in the U.S.
  • London-based Elliptic said participating investors 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 interest in the transaction-analysis industry as companies strive to comply with anti-money laundering rules and track the proceeds from successful hacks. Last month, payments giant Mastercard agreed to buy CipherTrace for an undisclosed amount. In March, Chainalysis, a peer whose client base includes government 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,” said Neil Cunha-Gomes, investor for SoftBank Investment Advisers.
  • Elliptic, which was founded in 2013, also said Richard Seewald, the founder and managing partner at Evolution Equity Partners will join its board of directors.
  • CoinDesk is a subsidiary of Digital Currency Group.

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


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