TRM Labs doubles valuation to $2B in Series C expansion
TRM Labs doubled its valuation to $2 billion after an expanded Series C round led by Blockchain Capital. The company did not disclose the new investment amount, but said annual recurring revenue has quadrupled over the past three years. The prior February Series C raised $70 million and valued TRM at $930 million; earlier backers included Citi Ventures and Galaxy. TRM provides blockchain intelligence and investigation tools used by more than 600 government agencies and private institutions in 75 countries. Its AI-powered software is used to investigate fraud, money laundering, sanctions evasion, and other digital crimes. The update comes amid rising digital crime losses and increased criminal use of AI, according to TRM’s index. It also follows a roughly $95 million ICE contract for forensic software and support, which rival Chainalysis later challenged in federal court.
