Reflecting on how far we've come and where we're going - as cited in Fortune, Coindesk, and the Accel Blog.
One of our company values is "radical gradualism." It reflects the combination of our big ambitions— to build foundational technology for the reinvention of the world's financial system— with our insistence on debating every important decision along the way. We are thoughtfully and deliberately paving the way for the responsible use of cryptocurrency among governments, financial institutions, cryptocurrency businesses, and consumers. This is no small task. That is why we are excited to announce that to further our mission of building trust in blockchains, we've raised a $30M Series B led by Accel, with participation from existing investors.
We have come a long way since we announced our $16M Series A in April 2018. We:
- Continued to grow our data advantage. We now support 85% of the top twenty coins by trading volume.
- Deployed Chainalysis KYT (Know Your Transaction), our real-time anti-money laundering and compliance solution for cryptocurrencies, and now have over 100 financial institutions and cryptocurrency exchanges signed up to use it.
- Expanded our coverage beyond Bitcoin to include Ether, Litecoin, Bitcoin Cash, and stablecoins to better analyze the funds involved in money laundering schemes, track contributions to ICO scams, and identify other forms of illicit activity in both Chainalysis Reactor, our investigations solution, and Chainalysis KYT (Know Your Transaction), our compliance solution.
- Broadened our support of global investigations with Chainalysis Reactor and have now tracked billions of dollars of stolen funds.
This is just the beginning. Illicit activity will continue to increase in absolute terms as the industry grows and as institutions prepare to transact in cryptocurrency. We will use our new funding to grow our global footprint, double down on our data, invest even more in new cryptocurrencies and multi-currency support, and continue to improve our compliance and investigation software. There is significant work to do in preparation for regulatory clarity and the institutionalization and mainstream adoption of cryptocurrency.
Growing our global footprint
Although we've had feet on the ground in London for a while, we are excited to officially open an office there. As our second European office following Copenhagen, London will act as our hub for European business as well as anchoring our research. We will look to double our headcount there, tapping into London's deep talent pool. The city is optimal for its proximity to top universities that increasingly recognize cryptocurrency as a technology poised to reshape the way people exchange value across the world. The office will position us to work with the major financial institutions and cryptocurrency businesses based in that market, as well as European governments. It's also convenient that our newest board member, Accel's Philippe Botteri, is based in London!
Additionally, we expect to continue to grow our business in APAC. In particular, cryptocurrency businesses founded in the region are quickly adopting anti-money laundering (AML) technology like ours in order to compete in the global arena and engage with users in the U.S. and Europe, and we expect this trend to continue. Cryptocurrency is borderless by design, and our technology can be used seamlessly across the world, regardless of local or international regulations.
Doubling down on data
Our core objective is to organize the world's blockchain data and make it accessible and useful to governments, financial institutions, and cryptocurrency businesses. We are doubling down on our investment in our people and technology that builds our understanding of how and why people use cryptocurrencies. Specifically, we are building a team that is focused on attributing more services associated with criminal activity, including darknet markets, scams, ransomware, terrorist financing, and sanctions evasion.
Our investigations and compliance software are only as good as our underlying historical data. It's like Netflix building a catalogue: the new shows are great, but they also need the classics for a complete collection. Chainalysis is the only company that has been systematically collecting information that links real world entities to blockchain transactions since 2014.
We analyze new cryptocurrencies far in advance of launching them in our products. This year, we'll prepare for coins that we expect to launch in 2020. We maintain rigorous standards on our level of data coverage before we make new coins available in our products. This ensures fast investigations and accurate risk scores for our customers.
Investing even more in new cryptocurrencies and multi-currency support
We know it's critical for our customers that we cover the most widely used cryptocurrencies. Cryptocurrency businesses need to monitor the breadth of coins and tokens they support, and investigators need to trace across multiple blockchains. That's why we overhauled our infrastructure and completely rethought how to best support multiple cryptocurrencies in our products. Now we're prioritizing the cryptocurrencies that have significant market share or are particularly meaningful to our customers. Last month we announced our expansion into stablecoins, with Paxos and TrustToken as our launch partners for Chainalysis KYT for Stablecoins. Stay tuned for additional coins and tokens rolling out over the next several months.
Continually improving our compliance and investigation software to create the fair marketplace for the responsible adoption of cryptocurrencies
We believe cryptocurrencies' open ledgers can actually set the standard for "regtech" once overarching regulation is in place. By harnessing technology like ours, regulators, compliance departments, consultancies, and Financial Intelligence Units (FIUs) can gain unprecedented insight into how and why people move money across the world. In addition to this transparency, blockchain compliance technology can screen transactions in real time. This visibility and velocity means cryptocurrency can, in many circumstances, help identify underlying risks better than in traditional financial markets.
In other words, we're ready to help governments, financial institutions, and cryptocurrency businesses enforce and comply with regulations across jurisdictions. That said, we are always improving Chainalysis Reactor and Chainalysis KYT to help our customers navigate a world in which cryptocurrency is more clearly regulated and therefore more mainstream. We're focused on making our powerful software easier to use and releasing advanced features for even more insight and control.
Blockchains' potential to bring positive change is broad, ranging from streamlining remittances to serving the underbanked in the U.S. and abroad. But there is a long road ahead before cryptocurrency fulfills this potential. Building trust— among governments, financial institutions, cryptocurrency businesses, and consumers— is the most vital step in cryptocurrency's transformation into an invaluable technology that protects our safety and enables greater prosperity. We believe this radical transformation is best done gradually, and we're looking forward to this exciting next phase of our company's— and our industry's— growth.
We're growing! Check out our 25+ open roles here.
Below is an article originally written by PowerToFly Partner 7Park Data, and published on December 11, 2018. Go to 7Park Data's page on PowerToFly to see their open positions and learn more.
We're thrilled to announce that 7Park Data has been acquired by Vista Equity Partners
This achievement could not have been realized without the remarkable efforts of our dedicated team, the trust of our partners, the belief of our investors, and the support of our deeply valued clients.
We founded 7Park six years ago with the goal of delivering tremendous value to data owners, by transforming their raw data into analytics-ready assets, and data consumers, by providing critical insight needed to make better decisions.
Today, extracting value from raw data is a challenge faced by every company in every industry globally. Our partnership with Vista will enable us to help companies execute their critical data initiatives on a much larger scale – by opening new markets, developing new products, and accelerating investments in our team and technology. As we scale, we will maintain our relentless focus on delivering value to our clients and partners.
We are energized by our opportunity ahead and look forward to realizing our markedly bigger vision for the next phase for 7Park.
Lastly, we're incredibly fortunate for the success we have had to date. Thank you to all who supported us through this journey – onwards!
-Alex and Brian, Founders
Wondering what's new at Peloton?
Well, you're in luck! The video above showcases lots of press about Peloton and the ways in which the company continues to grow.
If you're interested in joining their innovative team, then click here to see all available opportunities at Peloton and don't forget to press 'Follow' to receive custom job matches, event invitations and more!
Retail Marketing Technology Company Continues to Accelerate Its Growth
Below is an article originally written by PowerToFly Partner Bluecore, and published on October 18, 2018. Go to Bluecore's page on PowerToFly to see their open positions and learn more.
Bluecore, the retail marketing technology company that more than 400 retailers rely on to launch highly personalized campaigns at scale, today announced that it was ranked #13 on Crain's New York Business 2018 Fast 50.
The annual list curates the 50 fastest-growing companies in the New York area, measured by revenue growth from 2014 to 2017. The businesses on this year's list had an average three-year growth rate of 2,082%. To be considered for participation, companies must have at least $10 million in revenue, be headquartered in the New York area, and have been in business a minimum of four years.
"Bluecore's inclusion on Crain's 2018 Fast 50 list is confirmation that our investments in R&D, partnership network and value proposition for retailers is delivering value to our shareholders and customers," said Rob Holland, COO, Bluecore.
Bluecore's accelerated growth is further evidenced by its recent international expansion and the opening of its London office to support the demand of global brands. The company is now increasing its investment in R&D to continue to introduce new ways for retailers to activate new revenue opportunities, scale performance without scaling effort and maximize customer retention & lifetime value.
Holland added, "We are seeing mass adoption by retailers due to Bluecore's unique ability to connect customer and behavioral data with retailers' product catalogs in near real time."