Blockchain analysis firm, Chainalysis has announced that Sigal Mandelker, General Partner at Rabbit Capital has now joined Chainalysis as an advisor. Mandelker served as Undersecretary for Terrorism and Financial Intelligence at the U.S. department of the Treasury under President Trump until her resignation in October, 2019.
Mandelker said she is excited to work with the Chainalysis team to help develop public-private partnerships, enhance ground-breaking technologies in financial services, and root out illicit networks. According to her, Chainalysis has done terrific work providing blockchain analysis and tools to financial institutions, government agencies and exchanges. She said the company is working hard to track, analyze and disrupt illicit activity in the crypto space.
The announcement also noted that Chainalysis has raised an additional $13 million to expand its Series B round to $49 million. The newly ejected capital came from Rabbit Capital and Sound Ventures. According to the press release, Chainalysis will use the new funds to grow and deepen its government relationship. It will also be used to further unite the public and private sectors to fuel the crypto industry’s growth through the addition of software engineers, government sales, and other business roles.
Chainalysis has over the years been working hard to enhance its unrivalled blockchain data and foundational investigative product, Chainalysis Reactor. It has been providing insights into why and how people move money across the world. Its compliance products, Chainalysis KYT (Know Your Transaction) and Chainalysis Krypto are now used by more than 80 private sector customers across 44 countries, says the report.
According to Chainalysis co-founder and CEO, Michael Gronager, the company is founded on the belief that providing insights into crypto activity will unite government agencies, exchanges and financial institutions to fuel the industry’s growth.
According to him, Rabbit Capital’s deep fintech, cryptocurrency, and government experience, as well as Sound Ventures’ commitment to creating safer digital environments, make them natural partners as Chainalysis continues its high-growth trajectory and global expansion.