Blockchain forensics and intelligence firm Elliptic, has raised $5 million in a Series A funding round. Paladin Capital Group, a Washington-based private equity investment firm, led the funding round and four additional investment firms participated: Santander InnoVentures, KRW Schindler, Digital Currency Group and Octopus Ventures.
According to the terms of the deal, Christopher Steed, Managing Director of Paladin Capital Group, will get a seat on the Elliptic board of directors, while Santander InnoVentures and Octopus Ventures take on board observer roles.
The release explained that Elliptic will leverage the new infusion of capital to solidify its footing in the rapidly-expanding blockchain monitoring and compliance industry. The advent of blockchain-based digital currencies has complicated investigative efforts by law enforcement agencies around the globe, and Managing Director of Paladin Capital, Kenneth Minihan, recognizes that Elliptic’s data analysis capabilities will be indispensable to regulators in the near future:
We recognise that the firm’s monitoring capability will be an essential component of any blockchain in the future and we will help Elliptic to expand in the US, via our contacts and knowledge of US law enforcement and government agencies
http://themerkle.com/blockchain-forensics-firm-elliptic-obtains-5-million-in-series-a-round/
