Blockchain analytics firm Elliptic has raised $60 million in a Series C funding round.
The round was led by cybersecurity-focused venture capital firm Evolution Equity Partners, with participation 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 backed the round.
As part of the deal, Richard Seewald, founder and managing partner at Evolution Equity Partners, has also joined Elliptic’s board of directors.
With fresh capital at hand, Elliptic plans to expand its team, particularly in the U.S. The firm’s current headcount is around 100, and it plans to increase it to about 150 by the end of the year, an Elliptic spokesperson told The Block.
The Series C round brings Elliptic’s total funding to date to $88 million. The firm has previously raised $28 million in two funding rounds, the spokesperson said. They declined to share valuation.
Elliptic rival Chainalysis recently hit a valuation of $4.2 billion after its $100 million Series E fundraise in June. Chainalysis has raised $366.6 million in total funding to date, according to Crunchbase.
Another blockchain analytics firm, TRM Labs, also recently raised $14 million in a Series A funding round. CipherTrace, on the other hand, was acquired by Mastercard last month for an undisclosed amount.