ACCORDING to SecurityWeek, blockchain intelligence firm TRM Labs announced it has raised $70 million in a Series C funding round, valuing the company at $1 billion. The round 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.
The funding brings TRM Labs’ total funding to about $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 analysing transactions across multiple blockchains, used by law enforcement, financial institutions, and crypto businesses to detect fraud, money laundering, and other criminal activities.
The firm’s technology ingests data from over 200 million digital assets to trace fund movements in real time and aims to disrupt illegal activity ranging from ransomware and terrorism financing to fraud networks.