TRM Labs Raises $70M to Expand Blockchain Intelligence for Fighting AI Crime

TRM Labs has raised $70 million in new funding on a $1 billion valuation to expand its artificial intelligence-enabled investigation solutions.

TRM Labs, a blockchain intelligence company, revealed that it has raised $70 million in a Series C fundraising round to develop its AI capabilities for disrupting criminal networks and addressing national security issues.

TRM Labs is a blockchain intelligence that assists financial institutions, crypto companies, and government agencies in detecting and investigating cryptocurrency-related financial crime and fraud. TRM Labs also provides a platform for monitoring and analyzing transactions across numerous blockchains. The technology is utilized by law enforcement agencies, financial institutions, and crypto businesses to detect fraud, money laundering, and other criminal activities.

According to Esteban Castaño, Co-Founder and CEO of TRM Labs, AI is considered one of the most important technologies of this generation, and where it is applied matters. At TRM, they are building AI for problems that have real consequences for public safety, financial integrity, and national security, he says.

Castaño added that this funding allows their world-class team and the people who will join them next, to innovate alongside institutions on the front lines of the most consequential threats, and expand the potential of AI to meaningfully improve how their critical systems are protected.

Blockchain Capital led the investment round, which raised the company's valuation to $1 billion. Other investors included CMT Digital, Goldman Sachs, Bessemer Venture Partners, DRW VC, Y Combinator, Thoma Bravo, Alumni Ventures, Citi Ventures, Brevan Howard Digital, and Galaxy Ventures.

The raised capital supports TRM's objective to provide advanced AI solutions to the organizations in the public and private sectors to fight crime, and it comes after revenue growth that has averaged more than 150% annually over the previous five years. With this most recent investment, the company now has about $200 million in total funds, which will be utilized to accelerate the development of AI-powered investigative tools.