Blockchain intelligence firm TRM Labs announced on Wednesday that it has raised $70 million in a Series C funding round to expand its AI capabilities aimed at disrupting criminal networks and addressing national security risks.
The investment round, which brings the company’s valuation to $1 billion, was led by Blockchain Capital, with participation from CMT Digital, Goldman Sachs, Bessemer Venture Partners, DRW VC, Y Combinator, Thoma Bravo, Alumni Ventures, Citi Ventures, Brevan Howard Digital, and Galaxy Ventures.
This latest injection of capital brings the company’s total funding to approximately $200 million and will be used to scale engineering efforts and accelerate the deployment of AI-powered investigative tools.
TRM Labs 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.
The company’s solution integrates data from over 200 million digital assets, allowing users to trace the movement of funds in real time.
The TRM Labs blockchain intelligence platform can be used to identify and disrupt illegal activities, ranging from ransomware and terrorism financing to international crime syndicates and fraud networks.
The company often analyzes major cryptocurrency heists.
“AI is one of the most important technologies of our generation, and where it’s applied matters,” said Esteban Castaño, co-founder and CEO of TRM Labs. “At TRM, we’re building AI for problems that have real consequences for public safety, financial integrity, and national security.”
“This funding allows our world-class team — and the people who will join us next — to innovate alongside institutions on the front lines of the most consequential threats, and expand the potential of AI to meaningfully improve how our critical systems are protected,” Castaño added.
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