Elliptic, a cryptocurrency risk management company, has raised sixty million dollars in a Series C funding round. Evolution Equity Partners led the Series C round with the backing of a slew of investment firms, including SoftBank Vision Fund 2 and also capital partners Wells Fargo Strategic Capital, Digital Currency Group, AlbionVC, and SBI Group.
Elliptic’s fundraising history shows a poised rise. In their first round of funding, they hit a total of $5 million in 2016. In their second round of funding, they amassed a total of $28 million in late 2019 and early 2020. Elliptic’s risk management and analytical data solutions are used by two-thirds of total crypto traffic exchanged globally, as per the firm’s release. Furthermore, the company claims to have collected 20 billion data points over 98 percent of the sector’s assets based on market value. Elliptic was named one among 100 initial to growth-stage projects at the leading edge of technical innovation by the World Economic Forum in June 2020. The company was placed in the section of Blockchain and Distributed Ledger Technologies. Ripio, Lighting Labs, and Veridium Labs are among the significant industry figures in this category, as are Chainlink and MakerDAO.
Elliptic will use the funds raised in this round to grow its market-leading crypto asset risk management services to financial institutions, enterprises, and regulatory agencies all over the world. With the help of fresh funds, Elliptic now has the potential to be one of the leading crypto risk management firms in the world.