ELLIPTIC RAISES $60 MILLION TO ACCELERATE SAFE ADOPTION OF CRYPTOASSETS ...
ELLIPTIC RAISES $60 MILLION TO ACCELERATE SAFE ADOPTION OF CRYPTOASSETS BY MAINSTREAM FINANCIAL MARKETS New Investment to Expand Team and Network Globally and Accelerate Research and Development
NEW YORK & LONDON, Oct 12 (Bernama-BUSINESS WIRE) -- Elliptic, the global leader in cryptoasset risk management, announced today it has raised $60 million in Series C funding. The financing round was led by Evolution Equity Partners, alongside new investment 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 participated.
The latest fundraise will accelerate Elliptic's efforts in enabling financial markets participants to embrace the crypto opportunity with trust and confidence. The company serves traditional financial institutions, fintechs, crypto businesses and government agencies with the leading suite of compliance and investigative solutions built specifically for cryptoassets.
With the new investment, Elliptic plans to strengthen its global leadership position through continued research and development, investment in its global network and expansion of Elliptic’s team, particularly in the U.S. Richard Seewald, Founder and Managing Partner at Evolution Equity Partners will join the Board of Directors to provide strategic, proven leadership building global software companies.
Simone Maini, CEO of Elliptic, said: “At Elliptic, we help financial institutions, from crypto exchanges to the world’s leading banks, embrace cryptoassets more safely. This fundraising round is an endorsement of the opportunity for cryptoassets in the financial industry - and our absolutely critical role in the ecosystem.”
Founded in 2013, Elliptic pioneered the use of blockchain analytics for financial crime compliance and has built the most accurate and trusted crypto identity dataset in the market. Two thirds of crypto volume worldwide is transacted on exchanges that use Elliptic; these businesses rely on Elliptic’s solutions to manage risk and generate insights by leveraging over 20 billion data points covering 98% of all cryptoassets by market cap.
Richard Seewald, of Evolution Equity Partners, said: “Elliptic is at the forefront of safeguarding our digital world and has led the way in enabling the safe adoption of cryptoassets across financial services. The latest fundraise provides Elliptic more resources to expand their market-leading cryptoasset risk management to financial organizations, businesses and regulatory authorities around the world.”
“The unique nature of crypto as a maturing asset class means there is a growing need for enterprise-grade compliance and transaction monitoring tools,” said Neil Cunha-Gomes, investor for SoftBank Investment Advisers. “Elliptic was an early mover in this space and its customizable platform is trusted by financial institutions of all sizes. We are pleased to support Simone and the Elliptic team in their mission to enable safe crypto adoption globally.”
About Elliptic
Elliptic is the global leader in cryptoasset risk management for crypto businesses and financial institutions worldwide. Recognized as a WEF Technology Pioneer and backed by investors including Evolution Equity Partners, SoftBank and Wells Fargo Strategic Capital, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering money laundering, terrorist fundraising, fraud, and other financial crimes. Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo. To learn more, visit www.elliptic.co and follow us on LinkedIn and Twitter.
About Evolution Equity Partners
Evolution Equity Partners, based in New York City, Palo Alto, London and Zurich invests in fast growing technology companies helping exceptional entrepreneurs develop market leading companies safeguarding our digital world. The firm has a focus on Cybersecurity and Enterprise Software markets and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world. Learn more at www.evolutionequity.com and follow us at LinkedIn and Twitter.
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Source : Elliptic
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