Blockchain Analysis Provider Elliptic Attracted $60 M

by in Cryptocurrency News

Elliptic raises $60 M

Blockchain analytics firm Elliptic tweeted about raising $60 M in Series C funding round. Different venture companies and banks backed the round. Among the investors are VC Evolution Equity Partners, a multinational conglomerate company SoftBank, financial services companies Wells Fargo, Santander, Octopus and AlbionVC.

Related: DeFi TVL Surged Over $200 B First Time in History

Elliptic, founded in 2013, helps crypto firms and financial establishments to mitigate crime risk. The firm mentioned significant growth of the crypto industry. As an asset class, crypto has grown over 10 times in terms of 5 years. In the published report Elliptic expects a future 10X growth as more businesses are accepting crypto.

The company said that it's going to use the funds for accelerating research and development services, expanding its staff, and growing the global network.

Among the customers of Elliptic are fin. institutions, fintech and crypto companies and state agencies. According to the analytics provider, two-thirds of crypto volume on a global scale is carried out via exchange platforms using its software.

Earlier, in June U.S. blockchain data firm Chainalysis attracted $100 M, crossing $4 billion valuations.