Chainalysis, a startup blockchain intelligence company, announced today that they have raised $16 million in Series A funding from Benchmark.

Here’s the official announcement from the Chainalysis:

“We are proud to announce we have additional firepower to help Chainalysis continue to grow and build this future. We have raised a Series A of $16m from Benchmark and general partner Sarah Tavel is joining our board. Our expanding team of over 75 people across offices in New York, Washington D.C. and Copenhagen is working tirelessly behind the scenes to provide the necessary data that every stakeholder needs to bring us all closer to realizing the ultimate goal of empowering people to transact in ways that they could never have imagined.”

Benchmark is a highly-regarded venture capital firm that breaks the norm with its small team and equal profit sharing among partners. The Silicon Valley-based firm has been responsible for early-stage investments in companies like Uber, Discord, Dropbox, Zillow, Zendesk, New Relic, Riot Games, WeWork and even eBay in 1997. Benchmark is the lead investor in the $16 million Series A investment in Chainalysis.

Chainalysis was founded in 2014 by the then COO of Kraken, Michael Gronager, and post-grad economist Jonathan Levin, and has grown to 75 employees across three offices in New York, Washington and Copenhagen. The company rose to prominence when the small team was hired by the Mt. Gox bankruptcy trustees as the official investigators of the $460 million hack.

Tasked with finding the missing coins, the team “cracked the case probably two months in,” Levin told TechCrunch.

Chainalysis’ blockchain forensics has drawn interest from major law enforcement agencies, and they’ve already signed up several notable agencies, namely the FBI, DEA, IRS and Europol.

In conjunction with the Series A financing, Chainalysis announced the release of their newest product, Know Your Transaction (KYT), which is aimed at financial institutions looking to prevent money laundering and fraud. KYT provides real-time monitoring for compliance personnel at crypto exchanges and other financial institutions dealing in crypto transactions.

Today we are launching a new product called Chainalysis KYT (Know Your Transaction) “Anti-Money Laundering compliance is centered around understanding the purpose behind a single transaction or a collection of transactions done by the same user. Chainalysis KYT provides real-time feedback on the underlying purpose of transactions and feeds that feedback into exchanges’ transaction processing engines. Compliance personnel use our dashboard to generate alerts on risky customers and export suspicious activity reports. We have opened KYT to a small group of early customers, and they have already seen a 20x improvement in the speed of account reviews. We’re excited to officially open this solution to exchanges and financial institutions everywhere, which represent the fastest growing segment of our business today.”

The new compliance software suite joins Chainalysis’ other product, Reactor, a tool for investigating suspicious cryptocurrency transactions. Chainalysis also announced their plan to integrate additional currencies into Reactor and KYT this year, starting with Bitcoin Cash. Levin explained to TechCrunch that the other cryptocurrencies are still to be determined, adding, “The different blockchains that power different cryptocurrencies are all part of the same machine.”