London-based blockchain analysis provider Elliptic has announced it has raised $60 million in Series C funding. The financing round was led by Evolution Equity Partners, alongside new investment 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 participated.
The latest fundraise will accelerate Elliptic’s efforts in enabling financial markets participants to embrace the crypto opportunity with trust and confidence. The company serves traditional financial institutions, fintechs, crypto businesses and government agencies with the leading suite of compliance and investigative solutions built specifically for crypto assets.
Embracing crypto assets more safely
With the new investment, Elliptic plans to strengthen its global leadership position through continued research and development, investment in its global network and expansion of Elliptic’s team, particularly in the US. Richard Seewald, Founder and Managing Partner at Evolution Equity Partners will join the Board of Directors to provide strategic, proven leadership building global software companies.
Simone Maini, CEO of Elliptic, said: “At Elliptic, we help financial institutions, from crypto exchanges to the world’s leading banks, embrace crypto assets more safely. This fundraising round is an endorsement of the opportunity for crypto assets in the financial industry – and our absolutely critical role in the ecosystem.”
Tapping into crypto assets’ potential
Founded in 2013, Elliptic pioneered the use of blockchain analytics for financial crime compliance and has built the most accurate and trusted crypto identity dataset in the market. Two thirds of crypto volume worldwide is transacted on exchanges that use Elliptic; these businesses rely on Elliptic’s solutions to manage risk and generate insights by leveraging over 20 billion data points covering 98% of all cryptoassets by market cap.
Richard Seewald, of Evolution Equity Partners, said: “Elliptic is at the forefront of safeguarding our digital world and has led the way in enabling the safe adoption of cryptoassets across financial services. The latest fundraise provides Elliptic more resources to expand their market-leading cryptoasset risk management to financial organizations, businesses and regulatory authorities around the world.”
Growing need for enterprise-grade compliance
“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 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.”