Home News Elliptic raises $60M from Evolution Equity Partners

Elliptic raises $60M from Evolution Equity Partners


Elliptic analytical company has closed a Series C funding round led by Evolution Equity Partners in the amount of $60 million.

Thus, participating investors included SoftBank Vision Fund 2, AlbionVC, Wells Fargo, Octopus Ventures and others.

The company will direct the raised capital to research and development, expansion of the team, as well as international expansion.

“Identify layer” for blockchains

According to the press release, Elliptic has created an “identify layer” for blockchains using a number of methods; from machine learning to darknet market penetration. Moreover, by comparing real-world signals with anonymous objects and events, experts create risk analysis tools for transactions, wallets and institutions.

In addition, Elliptic emphasized the growing demand for products among corporations against the background of increasing capitalization of cryptocurrencies. And the appearance in this space of an increasing number of clients from the traditional financial sphere.

“Our products and vision have the backing of VCs and banks from the US, Europe and Asia. With this latest round, we welcome Evolution Equity Partners, who fund the highest-potential software businesses protecting the digital world, to our cap table and board. SoftBank, the world’s largest tech investor, is also coming aboard,” the publication says.

The acquisition of CipherTrace

Recall that earlier in September Mastercard announced the acquisition of one of Elliptic’s competitors, CipherTrace.

Based on the CipherTrace solution package and its own developments in the field of cybersecurity, Mastercard plans to launch an integrated offer. The latter “will allow enterprises to provide greater transparency and identify risks, along with help in managing their obligations to regulate digital assets and compliance”.

Mastercard noted that current partners of the corporation from among fintech companies, cryptocurrency wallet operators and government departments will have access to CipherTrace solutions. It is expected that the deal will be closed by the end of 2021. Furthermore, the acquisition of CipherTrace is part of Mastercard’s digital asset strategy.

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