Blockchain intel firm TRM Labs scores $70m expanded Series B
Blockchain intelligence firm TRM Labs has raised a $70 million expanded Series B round, bringing the total raise to $130 million.
TRM raises $70m in expanded Series B round
The round, led by fintech-focused private equity firm Thoma Bravo, saw participation from Goldman Sachs and previous investors including PayPal Ventures, Amex Ventures, Citi Ventures, among others.
The extended round follows TRM’s $60 million Series B raise in December 2021 led by Tiger Global.
San Francisco-based TRM, which provides intelligence to detect and prevent crypto-related fraud and financial crime, intends to use the cash to invest in product development and new hires as it looks to meet growing demand for its services.
TRM CEO Esteban Castaño says “demand has never been stronger” for solutions that protect crypto, prevent fraud and support innovation in the space.
“As the industry continues to mature, TRM is setting the standard for data, products, and training that equip enterprises and governments to combat fraud and financial crime, even as new threats emerge,” Castaño adds.
In June last year, the firm raised $14 million in Series A funding in a round led by Bessemer.
TRM’s solutions are utilised by law enforcement agencies, regulatory bodies, tax authorities and financial intelligence units, as well as a number of firms such as Circle and Shopify, to investigate, prevent and detect crypto crime, as well as meet regulatory requirements.
