TRM Labs, a San Francisco, CA-based blockchain intelligence company, raised $60m in Series B funding.
The round was led by Tiger Global with participation from American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square, Inc.), PayPal Ventures, B Capital Group, Bessemer Venture Partners, Blockchain Capital, Cap Table Coalition, Castle Island Ventures, Initialized Capital, Operator Partners, Emilie Choi, President and COO of Coinbase; Frank Slootman, Chairman and CEO of Snowflake; and Michael Scarpelli, CFO of Snowflake.
The company intends to use the funds to expand operations, hiring across engineering, product, sales, and data science, and its business reach.
Led by Esteban Castaño, co-founder and CEO, TRM developed a blockchain intelligence platform that combines cross-chain data with threat intelligence, advanced analytics, and intuitive visualizations to help organizations detect crypto fraud and financial crime. Cryptocurrency businesses like Circle, FTX US and MoonPay leverage TRM Transaction Monitoring to detect suspicious activity and meet Anti-Money Laundering (AML) regulatory requirements. Government agencies use TRM Forensics to investigate sophisticated crypto-related crime including scams, hacks and terrorist financing.
Since launching out of Y Combinator in 2019, TRM has grown revenue 600% year-over-year and expanded its team from 4 to 60. The TRM team includes threat finance experts from the FBI, U.S. Secret Service and Europol and data scientists from organizations like Apple, Amazon and Google.
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