Blockchain Intelligence Company Elliptic Raises $60 Million
Elliptic is happy to collaborate with Softbank Investment Advisers, according to Neil Cunha-Gomes of Softbank Investment Ad
Elliptic, a blockchain intelligence business, revealed on Monday that it had secured $60 million in a Series C funding round. Elliptic intends to use the funds to hire more people and “accelerate” blockchain research and development (R&D).
Several capital investments and financial injections have been focused on firms in the crypto ecosystem. Elliptic, a blockchain surveillance business, said on October 11 that it had secured $60 million from key investors. The fundraising was spearheaded by Evolution Equity Partners, with a “new investment from Softbank Vision Fund 2,” according to Elliptic. Softbank Group Corp., a Japanese multinational conglomerate holding corporation located in Minato, Tokyo, owns the majority of Softbank Vision Fund 2.
Albion VC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, Signalfire, and Paladin Capital Group were also among the investors in the Series C round, according to Elliptic. The money will go into new employees, R&D, and worldwide growth so fintech companies can “trust and confidently grasp the crypto potential.” Elliptic was formed in 2013, and it claims to have “over 20 billion data points encompassing 98 percent of all [crypto assets] by market size” today.
“At Elliptic, we assist financial institutions to accept [crypto assets] more safely, from crypto exchanges to the world’s biggest banks,” said Simone Maini, CEO of Elliptic, in a statement to Bitcoin.com News. “The possibility for [crypto assets] in the financial industry – and our extremely essential position in the ecosystem – is endorsed by this financing round.”
Elliptic Raises Capital in the Midst of Thick Competition
Elliptic’s funding comes after Chainalysis, a rival, received funding at the end of June 2021. Chainalysis reported at the time that it had received $100 million in a Series E round, bringing the company’s worth to $4.2 billion. There are now hundreds of blockchain surveillance companies operating in the wild. Alethio, Bison Trails, Blockpit, Blockmonitor, Bloxy, Postchain, Scoreshain, Sixgill, Tibco, Credits, Crystal Blockchain, Dune analytics, Madana, Bitrank, Ciphertrace, and Ocyan are among the blockchain intelligence businesses.
Elliptic is happy to collaborate with Softbank Investment Advisers, according to Neil Cunha-Gomes of Softbank Investment Advisers.
“Because of the unique nature of cryptocurrency as a mature asset class, there is a rising demand for enterprise-grade compliance and transaction monitoring solutions,” Cunha-Gomes explained. “Elliptic was a pioneer in this field, and financial institutions of various sizes rely on its adaptable platform.” “We are delighted to assist Simone and the Elliptic team in their quest to allow worldwide crypto adoption in a safe and secure manner,” the Softbank CEO stated.