Crypto Compliance Firm TRM Labs Completes $70 Million Series C Funding, Valuation Reaches $1 Billion

According to a report by Fortune, cryptocurrency compliance and investigation startup TRM Labs announced the completion of a $70 million Series C funding round, achieving a valuation of $1 billion and becoming a new "crypto unicorn." This round was led by early investor Blockchain Capital, with participation from traditional institutions such as Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo, and Citi Ventures.

TRM Labs was founded in 2018 by Esteban Castaño and Rahul Raina. Its blockchain analysis software is widely adopted by global law enforcement agencies and an increasing number of private companies using cryptocurrencies for fund transfers. Currently, about 40% of TRM's clients come 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.