The funding event positions TRM Labs as a prominent player in tracking crypto and blockchains for law enforcement and private sector companies.

TRM Labs secured a $70 million Series C led by Blockchain Capital, with participation from Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo, Citi Ventures and others, valuing the company at about $1 billion.

Co-founders Esteban Castano and Rahul Raina started TRM Labs in San Francisco in 2018 to provide blockchain analytics and risk management as digital asset use expanded.

TRM has a growing team of roughly 350 employees and has posted about 40% private-sector customers, with expectations for continued growth as tokenized assets and AI integration expand demand.

The article notes ongoing tensions with parts of the crypto community over privacy and decentralization, while TRM cites collaborations with entities linked to illicit finance and faces scrutiny from critics.

TRM collaborates with government agencies like the IRS and FBI and with private sector clients, illustrating a public-private partnership model in crypto compliance and enforcement.

TRM focuses on blockchain analytics and AI-powered solutions to combat cybercrime, aiming to protect public safety, financial integrity, and national security.

Funds from the round will help expand TRM’s global workforce of AI researchers, data scientists, engineers and financial crime experts, and advance AI-driven investigations and compliance tools.

TRM Labs is based in San Francisco with offices in Los Angeles, New York, Washington, London, and Singapore.

TRM’s early multi-chain tracking helped it establish a foothold against competitors, built on a team with government investigative experience.

TRM’s growth is supported by its expanding team and ongoing disclosures about illicit activity reports, signaling a long-term effort to reshape global financial infrastructure via blockchain analytics.

Government and law enforcement partnerships have grown, including collaboration with the IRS and FBI, which cited TRM’s role in cases linked to illicit networks.