Blockchain analytics firm TRM Labs has successfully closed a $70 million Series C funding round, catapulting its valuation to $1 billion. The investment was led by Blockchain Capital and saw significant participation from a consortium of major financial institutions, including Goldman Sachs, Bessemer Venture Partners, Brevan Howard, Thoma Bravo, and Citi Ventures.
TRM Labs specializes in providing blockchain intelligence software designed to track and investigate cryptocurrency-related crime. Its services are utilized by law enforcement agencies and private sector clients globally to enhance compliance and security measures within the digital asset ecosystem.
The substantial capital infusion is earmarked to accelerate the company's growth and facilitate the expansion of its suite of global compliance and investigation solutions. This funding round underscores the growing institutional interest and investment in the cryptocurrency infrastructure sector, particularly in tools aimed at security and regulatory compliance.
