Blockchain sleuth Chainalysis is now valued at $4.2 billion after raking in $100 million during its Series E funding round that was spearheaded by tech-focused investment manager Coatue.
The freshly injected capital will be used for covering a wider range of cryptocurrencies, including decentralized finance (DeFi) tokens.
Chainalysis says that it will develop new software solutions for both public and private sector organizations.
In March, the company raised $100 million in Series D financing, which propelled its valuation to $2 billion.
Last November, Chainalysis became a unicorn following its Series C round.
The sleuthing firm provides data insights to government agencies, crypto businesses, and institutional investors to let them detect and investigate transactions.
The latest funding round comes after ransomware attacks became a danger to national security in the U.S.
Denys Serhiichuk