Blockchain analytics firm Elliptic raised $120 million in a Series D funding round, with investors including Nasdaq Ventures, Deutsche Bank, and Commercial Bank of Britain, as stablecoins and tokenized assets gain broader institutional adoption.
According to the announcement, this funding round, led by One Peak, values Elliptic at $670 million. The funds will be used to expand its AI-driven blockchain analytics and transaction monitoring services for banks, fintech companies, government agencies, and crypto businesses.
Elliptic states that its platform screens over one billion blockchain transactions weekly, covering more than 65 networks and serving over 700 customers across 30 countries.
As stablecoins and tokenized financial assets are adopted more widely by exchanges, payment companies, and financial institutions, demand for real-time blockchain monitoring and anti-money laundering (AML) software is growing.
Elliptic, founded in 2013, provides blockchain analytics tools designed to help businesses identify illicit activity, comply with anti-money laundering requirements, and track on-chain fund flows.
Blockchain analysis company expands AI compliance tools
As crypto asset activities continue to grow in both the crypto market and traditional finance, blockchain analysis and anti-money laundering companies are expanding their AI-focused transaction monitoring and compliance software.
As researchers and security firms warn that advancements in AI are accelerating the discovery of vulnerabilities and crypto-related attack methods on decentralized finance platforms, demand for AI-assisted blockchain monitoring tools is rising.
According to DeFiLlama data, crypto-related hacks and exploits in April exceeded $600 million, marking the largest monthly loss in over a year for the industry.
Source: DefiLlama
In February, TRM Labs raised $70 million in a Series C funding round, valuing the company at $1 billion, with investors including Goldman Sachs, Blockchain Capital, and Galaxy Ventures. Similar to Elliptic, TRM plans to use these funds to expand its AI-driven blockchain intelligence and anti-money laundering systems, which are used by financial institutions, crypto companies, and law enforcement agencies to detect illicit on-chain activity.
In March, Chainalysis announced plans to launch an AI-driven "blockchain intelligence agent" designed to assist with cryptocurrency investigations and compliance workflows. The company stated that the software aims to automate tasks such as fund tracking, identifying suspicious activity, and conducting blockchain investigations.