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TRM Labs valuation doubles to $2B after Series C expansion
TRM said its annual recurring revenue has quadrupled over three years as its AI-powered investigations work scales across 600-plus organizations in 75 countries.
Blockchain intelligence firm TRM Labs has doubled its valuation to $2 billion after expanding its Series C funding round, which was led by Blockchain Capital, Cointelegraph reported. The company did not disclose the size of the latest investment.
TRM said its annual recurring revenue has quadrupled over the past three years, citing growth in its AI-powered investigations business. The expansion follows a $70 million Series C in February, also led by Blockchain Capital.
The firm provides blockchain intelligence and investigation software used by more than 600 government agencies and private-sector institutions across 75 countries. TRM said its AI tools are used to investigate fraud, money laundering, and sanctions evasion, and it cited rising digital crime losses reported to the FBI’s Internet Crime Complaint Center.
Cointelegraph also noted the timing of the funding expansion, coming about two months after US Immigration and Customs Enforcement awarded TRM a roughly $95 million, one-year contract for forensic software and support services for Homeland Security Task Force investigations.