TRM Labs Raises $14M in Series A Funding

TRM Labs, a San Francisco, CA-based blockchain intelligence company, closed a $14M Series A funding round.

The round was led by Bessemer with participation from PayPal Ventures, Initialized Capital, Jump Capital, Salesforce Ventures, Operator Partners, Blockchain Capital, and executives from Google as well as existing investors Y Combinator, Alumni Ventures Group, The MBA Fund, Tapas Capital, SGH Capital. In conjunction with the funding, Ethan Kurzweil, Partner at Bessemer Venture Partners, joined the TRM board.

The company intends to use the funds to expand operations across engineering, product, sales, and data science.

Led by Esteban Castaño, co-founder and CEO, TRM provides blockchain intelligence to help financial institutions, cryptocurrency businesses and public agencies detect, investigate and manage crypto-related fraud and financial crime. Its risk management platform includes solutions for cryptocurrency anti-money laundering (AML), transaction monitoring and wallet screening, entity risk scoring including Know-Your-VASP, and transaction tracing for investigations. The platform integrates with more than a dozen blockchains and analyzes billions of virtual asset transactions to detect in real-time signs of fraud and financial crime like money laundering.

FinSMEs

17/06/2021