CipherTrace, Inc.

CipherTrace, Inc. is a technology company specializing in blockchain analytics and cryptocurrency intelligence solutions, enabling organizations to navigate the complexities of digital assets safely and effectively. Founded in 2015 in Los Gatos, US, CipherTrace, Inc. offers blockchain analysis services.

The company was co-founded by David Jevans, who has a history of founding other companies in the cybersecurity domain. In September 2021, Mastercard Worldwide acquired CipherTrace, enhancing its capabilities in the cryptocurrency market. The company has completed six deals, with the most recent being a Series B round raising USD 27. 13 mn from Third Point Ventures.

The total amount raised by CipherTrace is USD 27. 13 mn, leading to a current company valuation of USD 91. 24 mn. CipherTrace provides comprehensive solutions for crypto and blockchain analytics, focusing on real-time transaction monitoring, compliance, and risk assessment.

Their services cater to financial institutions, governments, and crypto wallet providers by delivering secure and scalable transaction capabilities across digital asset ecosystems. The company's offerings also include tools for fraud detection and compliance management, which are critical for stakeholders dealing with cryptocurrencies. CipherTrace generates revenue through transactional services related to cryptocurrency compliance and analysis. Their business model includes fees for transaction monitoring and compliance services, which are essential for financial institutions and businesses entering the crypto space.

The firm's collaboration with partners in the blockchain sector further enhances its revenue potential through shared services and technology integration. In September 2021, following its acquisition by Mastercard, CipherTrace aims to expand its product offerings, particularly in enhancing its analytics tools for digital currencies. The company plans to enter new markets in North America, Europe, and Asia, leveraging the resources from Mastercard to facilitate this growth. Recent funding will be utilized to develop innovative solutions and enhance its existing infrastructure to support a wider clientele in the evolving cryptocurrency landscape.