TRM Labs Raised $60 million from Leading Financial Institutions
TRM Labs has raised $60 million in a Series B funding round led by Tiger Global with participation from leading financial institutions including American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square, Inc.), and PayPal Ventures.
New and existing venture firms including B Capital Group, Bessemer Venture Partners, Blockchain Capital, Cap Table Coalition, Castle Island Ventures, Initialized Capital and Operator Partners also participated. The round also included investments from 50 of the world’s leading operators including Emilie Choi, President and COO of Coinbase; Frank Slootman, Chairman and CEO of Snowflake; and Michael Scarpelli, CFO of Snowflake.
In support of the mission to build a safer financial system for billions of people, they developed the first 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.
Fast-growing cryptocurrency businesses like Circle, FTX US, and MoonPay use 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 crimes including scams, hacks, and terrorist financing.
“Crypto is moving faster than any sector in our lifetimes. Organizations need a blockchain intelligence partner that can stay ahead of the evolving risk landscape — from ransomware attacks to DeFi exploits,” said Esteban Castaño, co-founder and CEO of TRM. “This round enables TRM to continue to offer the most reliable data and most innovative technology solutions in the market to its customers.”
TRM brings together experts in machine learning, data science, anti-fraud, and compliance to crack complex problems and serve an inspiring community of customers and partners. TRM is hiring across engineering, product, sales, marketing, and data science.
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