Michael Gronager, co-founder and CEO of blockchain analytics unicorn Chainalysis, has announced his decision to step back from his leadership role after a decade of dedicated service. According to a source familiar with the matter, Gronager has been on personal leave since September 25.
A spokesperson for Chainalysis confirmed that Gronager's leave is due to a personal issue. The timeline for his potential return remains uncertain, and specific details have not been disclosed. In the interim, Sari Granat, the company's president and chief operating officer, has stepped in as acting CEO. Granat joined Chainalysis in April 2022 and brings a wealth of experience, having managed various functions including sales, finance, and operations.
Gronager's sudden personal leave follows recent media engagements at Token2049 in Singapore. The reasons behind his leave, including potential health concerns or internal company dynamics, are currently unclear.
Last October, Chainalysis underwent significant layoffs, shedding around 150 employees, which constituted over 15% of its workforce. This was part of a strategic shift to focus on government contracting, which previously accounted for approximately 70% of the company’s revenue.
As of May 2022, Chainalysis was valued at $8.6 billion following a $170 million Series F funding round led by GIC, Singapore's sovereign wealth fund, accumulating over $535 million in total funding to date.
