TRM Labs, the blockchain intelligence platform backed by Goldman Sachs and Thoma Bravo, announced Wednesday it has closed a $70 million Series C round, bringing its valuation to $1 billion.
The round was led by Blockchain Capital and included participation from returning investors such as CMT Digital, Goldman Sachs, Bessemer Venture Partners, DRW Venture Capital, Y Combinator, Thoma Bravo, Alumni Ventures, Citi Ventures, and Brevan Howard Digital, with Galaxy Ventures joining as a new investor.
“TRM Labs provides foundational infrastructure that enables institutions to operate distributed ledger technologies safely and efficiently,” said Mathew McDermott, who leads digital asset efforts at Goldman Sachs. “We are proud to continue supporting TRM, given their role in accelerating the responsible growth and institutionalization of digital assets.”
Founded in 2018, TRM Labs provides crypto fraud detection, AML compliance, transaction monitoring, and forensic tracing across 150 blockchains. The San Francisco-based company raised $70 million in a Series B funding round in late 2022, with Thoma Bravo and Goldman Sachs joining as new investors.
The latest funding comes amid strong revenue growth and will accelerate TRM’s mission to equip law enforcement, national security agencies, and financial institutions with AI tools to combat crime.
The company plans to use the funds to scale AI-driven solutions for detecting and disrupting illicit blockchain activity, expand talent across AI and investigations, and enhance compliance and investigative capabilities for global institutions.
Source: https://cryptobriefing.com/trm-labs-series-c-funding/