Bitcoin Blockchain analytics startup Coinalytics raises $1.1m seed round / Duncan Riley / SEPTEMBER 13, 2015

Real-time Bitcoin Blockchain analytics startup Coinalytics, Inc. has raised $1.1 million in a seed round from The Hive.

Founded in 2014, Coinalytics offers a number of services relating to the real-time tracking of the Bitcoin Blockchain to allow companies to undertake risk assessments, among other related security and compliance tracking.

The company’s main Blockstem API service, which we covered the launch of back in February, appeals to companies and organizations looking to find ways to beef up their fraud detection and compliance monitoring, and can also be used to trace fraudulent transactions after they have taken place.

Coinalytics has previously used their system to visualize Blockchain data on the collapse of Bitcoin exchange MintPal, as well as tracking incidents around the darknet illegal drugs bazaar Silk Road 2.0; the data in both cases is publicly available on the Coinalytics blog.