"Blockchain intelligence firm TRM Labs announced on Wednesday that it has raised $70 million in a Series C funding round to expand its AI capabilities aimed at disrupting criminal networks and addressing national security risks. The investment round, which brings the company's valuation to $1 billion, was led by Blockchain Capital, with participation from CMT Digital, Goldman Sachs, Bessemer Venture Partners, DRW VC, Y Combinator, Thoma Bravo, Alumni Ventures, Citi Ventures, Brevan Howard Digital, and Galaxy Ventures."
"TRM Labs provides a platform for monitoring and analyzing transactions across numerous blockchains. The technology is utilized by law enforcement agencies, financial institutions, and crypto businesses to detect fraud, money laundering, and other criminal activities. The company's solution integrates data from over 200 million digital assets, allowing users to trace the movement of funds in real time. "AI is one of the most important technologies of our generation, and where it's applied matters," said Esteban Castaño, co-founder and CEO of TRM Labs. "At TRM, we're building AI for problems that have real consequences for public safety, financial integrity, and national security.""
TRM Labs raised $70 million in a Series C round that values the company at $1 billion and was led by Blockchain Capital with numerous institutional investors participating. The financing brings total capital raised to about $200 million and will fund scaling of engineering teams and accelerated deployment of AI-powered investigative tools. TRM Labs operates a blockchain intelligence platform that monitors and analyzes transactions across many blockchains for law enforcement, banks, and crypto firms. The platform aggregates data from over 200 million digital assets and enables real-time tracing of fund movements to detect fraud, money laundering, ransomware, terrorism financing, and international crime networks.
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