StateUp 21 member Chainalysis has just announced a $100 million Series E funding round, raising its valuation to $4.2 billion. This latest round was led by Coatue. Altimeter, Blackstone, GIC, Pictet, Sequoia Heritage, and SVB Capital also participated alongside previous investors Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital.

This announcement comes just three months after the startup raised a $100 million Series D funding round.

Chainalysis’ products make it easier to map and assess blockchain transactions. This is important because blockchain applications are decentralised, (pseudo) anonymous, and cryptographically secured. These features underpin blockchain’s innovative internal regulation, but also make it uniquely difficult to govern.

The startup plans to use this funding to cover more cryptocurrencies, develop tools for team members to collaborate within its platform, and release an API so that organisations like government entities can incorporate Chainalysis data into their internal systems.

To learn more, read our full StateUp 21 profile of Chainalysis here.