Elementus - Series A2

Elementus today announced a $10M Series A-2 funding round led by ParaFi Capital, a crypto-native investment and technology firm that has led early-stage rounds in dozens of blockchain companies. The new round values the company at $160 million—up from its last valuation of $52 million—with Moonshots Capital, Spitfire Ventures, and Colaco Investment Group among the other investors. It brings Elementus' total funding to $27M following a $12M raise late in 2021 and comes amidst a growing need for more transparency across blockchain-based businesses following a year marked by a number of high-profile collapses in the broader cryptocurrency landscape. 

Funds from the $10M A-2 raise are earmarked for hiring and new product development. The ParaFi-led round comes one year after the company's Series A funding round and adds to an already noteworthy 2022, in which Elementus:

• Increased its valuation 208%, from $52M to $160M;
• Doubled its headcount, including the expansion of its leadership team with three strategic hires from Meta, JPMorgan, and Global Relay;
• Was named to The Information's 50 Most Promising Startups of 2022 list in the crypto category;
• Selected by the Official Committee of Unsecured Creditors of Celsius Network and of BlockFi as Blockchain Intelligence and Forensics Expert in two of the most high-profile crypto bankruptcies.