Crypto compliance company TRM Labs completes $70 million Series C funding, valuing at $1 billion

PANews February 4th News, according to Fortune magazine, the cryptocurrency compliance and investigation startup TRM Labs announced the completion of a $70 million Series C funding round, valuing the company at $1 billion, becoming a new “crypto unicorn.” This round of funding was led by early investor Blockchain Capital, with traditional institutions such as Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo, and Citigroup Venture Capital participating. TRM Labs was founded by Esteban Castaño and Rahul Raina in 2018. Its blockchain analysis software is widely used by law enforcement agencies worldwide and an increasing number of private companies involved in transferring funds via cryptocurrencies. Currently, about 40% of TRM’s clients are from the private sector, and this proportion is growing as financial institutions explore tokenized deposits, equities, and other assets. The company’s team has rapidly expanded to 350 people and is leveraging AI technology to combat evolving criminal tactics.