Blockchain analytics firm Elliptic said it raised $120 million in new funding from investors including Nasdaq Ventures and Deutsche Bank as financial institutions increase spending on cryptocurrency security and compliance infrastructure.
The fundraising round, led by growth equity firm One Peak, values the London-based company at $610 million, according to a Tuesday press release. The British Business Bank also participated.
The reversal comes as crypto markets face a wave of security breaches and exploits that have exposed weaknesses in both decentralized finance (DeFi) protocols and centralized platforms. Hackers have stolen nearly $3 billion in crypto assets since the beginning of 2025 through smart contract exploits, phishing attacks, and cross-chain bridging breaches, and regulators are pressuring exchanges and banks to tighten anti-money laundering controls.
As a result, blockchain analytics companies have become critical infrastructure providers for institutions entering the digital asset industry. Elliptic’s software tracks crypto transactions across dozens of blockchains and flags wallets linked to sanctions, fraud, ransomware or illicit finances.
Banks, exchanges, and government agencies use these tools to monitor transactions and comply with financial crime regulations. The company said that two-thirds of the global cryptocurrency trading volume flows through exchanges that already use its services.
Demand for such systems has accelerated alongside the growth of stablecoins and tokenized assets, which are increasingly being incorporated into mainstream finance. Stablecoins accounted for approximately $33 trillion in transactions last year, according to the company.
Large financial firms are also exploring tokenized securities and blockchain-based settlement systems, raising the stakes for compliance providers that can monitor activity on public blockchains in real time. At the same time, artificial intelligence (AI) tools are making attacks cheaper and faster, forcing a rethink of how cryptographic systems are kept secure.
Elliptic said the new funding will be used to expand its AI-powered monitoring and risk analysis tools as institutional adoption of digital assets grows.
“One of the things we will accelerate with the funding is our agent product roadmap,” CEO Simone Maini told CoinDesk. “What that means is creating and launching agents that sit on top of Elliptic’s data set to be able to automate many of the repetitive and highly manual tasks performed by compliance analysts.
“That means those precious resources can be redeployed to dig deeper and investigate financial crimes when necessary,” he said.
