Elliptic has closed a $120 million Series D funding round, with One Peak Partners leading the investment. Deutsche Bank and NASDAQ also participated as backers in the round, the company announced.
One Peak leads the round
One Peak Partners, a growth equity firm focused on technology companies, served as the lead investor. The firm typically backs businesses in the enterprise software and data analytics space. Elliptic did not disclose the valuation at which the round was priced.
Deutsche Bank and NASDAQ join
The participation of Deutsche Bank and NASDAQ brings two of the world’s largest financial infrastructure players into Elliptic’s cap table. Deutsche Bank is a global investment bank, while NASDAQ operates stock exchanges and market technology. Their involvement signals that traditional finance is deepening ties with the blockchain compliance sector, though the company has not specified whether the banks will take board seats or advisory roles.
What the funding means for Elliptic
The Series D brings Elliptic’s total funding to date to more than $200 million, according to the company. The firm did not provide details on how it plans to deploy the fresh capital. No revenue or growth metrics were shared alongside the announcement.
Elliptic has not commented on whether the funds will be used for hiring, product development, or geographic expansion. The company’s last disclosed round was a Series C in 2022.
The funding round comes as regulators worldwide increase scrutiny of cryptocurrency transactions. Elliptic’s tools are used by financial institutions to detect illicit activity, but the exact scope of the new investment’s impact remains unclear.
