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On Monday, the blockchain intelligence firm Elliptic announced the company has raised $60 million in a Series C financing round. Elliptic plans to leverage the capital to expand the team and \u201caccelerate\u201d blockchain research and development (R&D).<\/strong>\n<\/p>\n \n Elliptic also notes that Albion VC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, Signalfire, and Paladin Capital Group added to the Series C round as well. The funding will go toward new hires, R&D, and global expansion so fintech participants can \u201cembrace the crypto opportunity with trust and confidence.\u201d Elliptic was founded in 2013 and today, the company claims to \u201c[leverage] over 20 billion data points covering 98% of all [crypto assets] by market cap.\u201d<\/span><\/p>\n \u201cAt Elliptic, we help financial institutions, from crypto exchanges to the world\u2019s leading banks, embrace [crypto assets] more safely,\u201d Simone Maini, CEO of Elliptic, said in a <\/span>statement sent to Bitcoin.com News. \u201cThis fundraising round is an endorsement of the opportunity for [crypto assets] in the financial industry \u2013 and our absolutely critical role in the ecosystem.\u201d<\/p>\n \n Softbank Investment Advisers Neil Cunha-Gomes says the financial conglomerate holding company is pleased to work with Elliptic.<\/p>\n \u201cThe unique nature of crypto as a maturing asset class means there is a growing need for enterprise-grade compliance and transaction monitoring tools,\u201d Cunha-Gomes stressed. \u201cElliptic was an early mover in this space and its customizable platform is trusted by financial institutions of all sizes. We are pleased to support Simone and the Elliptic team in their mission to enable safe crypto adoption globally,\u201d the Softbank executive added.<\/p>\n What do you think about Elliptic raising $60 million in a Series C? What do you think about the growth of blockchain surveillance firms? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\nElliptic Raises $60 Million to Bolster Expansion<\/h2>\n
There\u2019s been a number of capital investments and finance injections directed at companies within the crypto ecosystem. On October 11, the blockchain surveillance company Elliptic revealed the firm has raised $60 million from strategic investors. Elliptic highlights that Evolution Equity Partners, led the funding alongside a \u201cnew investment from Softbank Vision Fund 2.\u201d Softbank Vision Fund 2 is basically owned by Softbank Group Corp., the Japanese multinational conglomerate holding company headquartered in Minato, Tokyo. <\/span><\/p>\nElliptic Raises Capital in the Midst of Thick Competition<\/h2>\n
\nElliptic\u2019s funding follows the financing the company\u2019s competitor, Chainalysis, saw at the end of June 2021. At that time, Chainalysis announced<\/a> the firm had raised $100 million in a Series E, and the added finances brought the company\u2019s valuation to $4.2 billion. There are also dozens of blockchain surveillance firms in the wild today. There\u2019s also blockchain intelligence companies like Alethio, Bison Trails, Blockpit, Blockmonitor, Bloxy, Postchain, Scoreshain, Sixgill, Tibco, Credits, Crystal Blockchain, Dune analytics, Madana, Bitrank, Ciphertrace, and Ocyan.<\/p>\n