TRM Labs doubles valuation to $2B in Series C expansion

Blockchain intelligence firm TRM Labs has doubled its valuation to $2 billion following an expansion of its Series C funding round led by Blockchain Capital. The company's annual recurring revenue has quadrupled over the past three years, as it expands its AI-powered investigations business. TRM Labs provides blockchain intelligence and investigation software used by over 600 government agencies and private-sector institutions across 75 countries.

The expansion follows a $70 million Series C in February, also led by Blockchain Capital. The new valuation comes about two months after US Immigration and Customs Enforcement (ICE) awarded TRM a roughly $95 million, one-year contract for forensic software and support services for Homeland Security Task Force investigations.

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