Tanzeel Akhtar has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal, Bloomberg, CoinDesk, Bitcoin…
Analytics firm TRM Labs reached a $1 billion valuation following the close of a $70 million Series C funding round led by Blockchain Capital.
The round was backed by a mix of returning and new strategic investors, including Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Thoma Bravo, Citi Ventures, Galaxy Ventures and DRW Venture Capital. Blockchain Capital which also led TRM’s pre-seed round in 2018 returning as the lead investor.
The San Francisco-based firm provides blockchain intelligence software used to trace illicit crypto activity and support compliance operations across both the public and private sectors.
Its customer base includes law enforcement and national security agencies in more than 50 countries, alongside private-sector clients such as Circle, Coinbase, PayPal, Visa, Stripe, Robinhood and Cross River Bank. Ari Redbord, TRM’s global head of policy confirmed the funding round to CryptoNews.
TRM said the new capital will support its mission to equip institutions with AI solutions designed to combat ransomware groups, terrorist financing networks, transnational criminal organizations and scam operators increasingly leveraging automation and artificial intelligence.
“As an increasing amount of global economic activity moves on-chain, the need for solutions that can scale an effective response to these threats has never been greater,” TRM said in a statement.
AI Expansion Across Compliance and Investigations
TRM Labs said the Series C proceeds will accelerate investment across three core areas: expanding its talent base, advancing AI compliance tools, and strengthening AI-powered investigative capabilities.
The company is focusing on improving financial crime risk management including faster alert processing, more efficient exposure assessments and stronger linkages between on-chain and off-chain criminal activity.
“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.”
Mathew McDermott, global head of digital assets at Goldman Sachs adds that TRM provides “foundational infrastructure that enables institutions to operate distributed ledger technologies safely and efficiently.”
Growing Demand for Blockchain Intelligence
TRM’s valuation reflects broader momentum in the blockchain analytics sector, as governments and regulated financial firms increase oversight of digital asset markets.
The firm’s leadership includes Ari Redbord, TRM’s global head of policy, who previously served as a senior advisor at the U.S. Treasury and as an Assistant U.S. Attorney in Washington, D.C., working on terrorism finance and crypto-related investigations.
TRM said it is also hiring across applied AI, machine learning, engineering, data science, and go-to-market roles as it expands its global footprint, with hubs in New York, Washington D.C., London, Singapore, and Los Angeles.
