Crypto analytics firm TRM Labs reaches unicorn status following $70M Blockchain Capital-led Series C

Crypto analytics firm TRM Labs has reached a $1 billion valuation after successfully closing a $70 million Series C funding round, led by venture capital firm Blockchain Capital. This funding propels TRM Labs into the ranks of crypto unicorns amid increasing demand from national security agencies, regulators, and financial institutions for tools to track illicit activity, fraud, and sanctions evasion across crypto markets. Founded in 2018, TRM Labs provides software that traces transactions across various blockchains to help clients identify suspicious activity and assess risk. The company plans to use the new capital to expand its product suite, increase investment in AI and machine learning capabilities, and grow its global team to combat increasingly sophisticated criminal exploitation of new technologies. The funding round saw participation from several key investors, including CMT Digital, Goldman Sachs, Bessemer Venture Partners, and Citi Ventures.

(Source：The Block)