Blockchain analytics platform that traces cryptocurrency flows to detect illicit activity, provide compliance tools, and support law enforcement investigations.
4 methods · Source-audited Jun 12, 2026Low confidence (33%)
The four valuation methods disagree significantly (3.5× spread). Treat this as a wide reference range only — not a reliable point estimate.
$8.6B
wide range · ~$6B – ~$10B
Implied per-share: $34.3 · vs last primary -8%
No verified public secondary-market signal available for Chainalysis. The estimate relies on last confirmed financing, peer multiples, sector momentum, and time decay.
Valuation basis:Last primary roundSource-audited Jun 12, 2026
Last primary round
$8.6B
Series F · 50mo ago
Secondary signal
—
No verified secondary signal
No verified public secondary signal is available. Hiive/Forge links are monitoring links only, not evidence of a current executable price.
Headcount
900
employees · LinkedIn-10%
LinkedIn count — directional proxy only. Historical figure sourced via Wayback Machine; treat ±15% as normal variance.
Revenue (est.)
$250M
annual run rate · est.
ℹ
Last primary was Series F at $8.6B (May 2022). No new confirmed primary equity round since. A Hiive bid implying ~$7.4B was noted in Oct 2025 but current secondary market pricing indicates significant discount from the 2022 primary — treat valuation as stale.
Complete company data
Every input we use, where we got it from, and how much we trust it.
✓
Source verification: TechCrunch May 2022 · $8.6B Series F · manual-source-audit-2026-06
Derived/estimated — SEC Form D filings, secondary price math, cap-table summaries[estimated — not authoritative]› notes
Public total fully-diluted share count: estimated from SEC Form D filings, secondary-market pricing math (implied valuation ÷ price per share), and leaked cap-table summaries. Considered the lowest-confidence input.
low
Implied share price (illustrative only)
~$34
$8.6B anchor × 1000 ÷ 230M shares[derived]› notes
Wide method spread — treat as illustrative mechanics only. The last primary round is a more reliable anchor for high-stakes decisions.
low
Primary equity type granted
ISO/NSO
Public reports of company equity practices
high
Financials
Annual revenue (est.)
$250M
Estimated — best available public estimates (Sacra, The Information, company ARR disclosures, press reports)[estimated — not independently verified]› notes
Annual revenue: best public estimates from Sacra, The Information, WSJ leaks, or company-stated ARR. Where official, we cite the source on the funding round.
medium
EV / Revenue (implied)
34.4x
Computed from valuation ÷ revenue[derived]
medium
Headcount
Employees (now)
900
LinkedIn — current company page count› notes
Headcount: LinkedIn 'Company' page employee count, taken now and approximately 12 months ago via the Wayback Machine. Treat as a directional proxy for revenue growth, not a hard number.
medium
Employees (12 months ago)
1,000
LinkedIn company page — historical snapshot via Wayback Machine[estimated — ±15% directional proxy]
medium
12-month headcount growth
-10%
Computed[derived]
medium
Methodology inputs
Sector ETF proxy
BLOK
Editorial choice — most representative public ETF› notes
Sector ETF: editorial choice of the most representative public-market proxy. Annual return: 3-year trailing average from Yahoo Finance, refreshed quarterly.
medium
ETF annual return (trailing 3-yr)
24%
Yahoo Finance · refreshed quarterly
medium
Funding history
Primary rounds reported in Bloomberg, WSJ, TechCrunch, Reuters, or SEC Form D filings (efts.sec.gov). Linked per round below.
Secondary market signals: bid/ask/trade indications from Hiive (hiive.com), Forge Global, Caplight Index, and tender prices reported in the press.
Implied valuation over time
Implied valuation · secondary market
$7.4B
Bid
⚠
Forge and Hiive publish aggregated market data publicly, but full order books, individual bids/asks, and confirmed trade prices require a paid account. The figures below are sourced from their public summaries, press-reported tender prices, and SEC disclosures. They represent the best publicly available signal — not a guaranteed executable price.
Public peer comparables: editorial selection of public companies with the closest business model. EV/Revenue and growth from public 10-Q filings and Bloomberg, refreshed quarterly.
Ticker
Company
EV / Revenue
Revenue growth
As of
COIN
Coinbase Global, Inc.
6.64x
+-31%
2026-07-10
HOOD
Robinhood Markets, Inc.
22.47x
+15%
2026-07-10
MSTR
Strategy Inc
68.49x
+12%
2026-07-10
Confidence breakdown
How much we trust each of the four valuation methods for this specific company, and why.
Weighted average of the four methods. Above 60% is high, 35–60% medium, below 35% low.
Low
Worked example for an employee
Illustrative mechanics only — this shows how the equity model works, not a reliable value estimate.
Illustrative mechanics only
This example shows equity mechanics only. It is not a reliable estimate of current value because model support is weak (confidence 33%, spread 3.5×).
Show illustrative values (not a reliable estimate) ▸
Profile: a hypothetical employee who joined Chainalysis 24 months ago (2024-07-10) with 2,000 options, on the standard 4-year vesting schedule with a 1-year cliff.
Vesting
1,000 of 2,000
50% vested at month 24
Implied share price (mid)
$34
weighted average of 4 methods — low confidence
Gross vested value
$34,252
vested shares × implied price
Net value
$34,252
no strike, gross = net
Tax (rough)
$3,878
US federal only · AMT risk: low
What if the next round is…
Up round +30%
$38,719
New round at +30% valuation, 15% new shares issued
Down round −30%
$19,980
New round at −30% valuation, 20% new shares (higher dilution in distress)
Secondary today
$29,114
Sale on the secondary market at the typical 15% discount to the mid estimate
These illustrative values use the same calculation engine as the live calculator, but the underlying model is low-confidence for Chainalysis. Use your own numbers as a starting point only. Try the calculator →
Transparent assumptions
What we assumed where exact data isn't available. If any of these don't match your situation, the numbers above will be off.
Fully-diluted share count
230M shares
We don't have authoritative cap-table access for private companies. The number above is reconstructed from SEC Form D filings, secondary-market price-vs-valuation math, and leaked share-class summaries. Actual fully-diluted count (including unvested option pool and SAFEs) may differ by 5–15%.
Common-stock waterfall
1.0× to common
We assume a clean common-stock outcome — i.e. preferred-share liquidation preferences and ratchets do not extract value before common. In a down-exit, this assumption can be very wrong: preferred stack can take 30–70% of proceeds.
Private-company illiquidity discount
25% off public peers
Applied to Method A (peer-multiple). Per-company because category leaders with deep secondary markets and a clear IPO path warrant a smaller discount than early-stage names. The literature range is 10–35%; for Chainalysis we use 25% based on secondary-market depth, valuation history, and proximity to liquidity.
Revenue growth assumption (Method C)
20% YoY
Compounded forward from the last primary date to today to estimate the company's value drift. Set per-company based on disclosed or reported ARR trajectory. Method C is further capped at 1.3× the most recent secondary trade (if any) to stop runaway extrapolation when revenue growth outpaces what the market is actually paying.
Sector ETF momentum (Method D)
BLOK @ 24%/year
Method D applies the trailing return of BLOK as a market-proxy adjustment to the primary valuation. Crude — meant as a tiebreaker when peer and secondary data conflict, not as a primary signal.
Outlier auto-downweight
Methods >50% from median get ½ weight
Robust-statistics safety net: any method whose output strays more than 50% from the median of the other three methods has its confidence weight halved when computing the blended mid-point. Prevents a single bad extrapolation from dragging the headline.
Recency decay for secondary trades
180-day half-life (e⁻ᵈ/¹⁸⁰)
A trade from 30 days ago counts ~5× more than one from 180 days ago. Tunable; some platforms use shorter half-lives.
Tax estimate
US federal only, single filer
Uses 2024 US federal brackets, ignoring state tax, NIIT, AMT credit recovery, and any other deductions. Treat as a directional sanity check, not a tax bill.
All data from public sources. Not investment, tax, or legal advice. Not affiliated with Chainalysis. Last refreshed manually — see methodology for our update cadence.