TRM Raises $70M Series B Investment Round

Published on: 10.11.2022
TRM Raises $70M Series B Investment Round

TRM, a digital asset compliance and risk management, raises $70M in the Series B Investment Round, to build a safer financial system for billions of people.

TRM raises a $70M expansion to their Series B investment round, bringing the raise to $130 million in total.

The platform is thrilled to welcome new investors Thoma Bravo, Goldman Sachs, Brevan Howard, Geodesic Capital, and CMT Digital. They are excited to welcome back their existing investors including B Capital, PayPal Ventures, Citi Ventures, Marshall Wace, Amex Ventures, DRW Venture Capital, Alumni Ventures, and Bessemer Venture Partners.

About the Raised Capital

This expansion follows a $60 million Series B raise led by Tiger Global in December 2021. The funding will be used to make product development and talent investments. In order to provide the most effective, accessible tools to combat illicit finance and fraud in the crypto space. As well as to meet the demand for their Incident Response services and training programs.

“Demand has never been stronger for solutions that help protect crypto users, impede illicit actors, and support blockchain-based innovation,” said Esteban Castaño, co-founder and CEO of TRM. “As the industry continues to mature, TRM is setting the standard for data, products, and training that equip enterprises and governments to combat fraud and financial crime, even as new threats emerge.”

“TRM has differentiated itself as the premier blockchain intelligence solution to the public and private sector. With a unique breadth of asset coverage, cross-chain analytics, and level of product innovation”. said Christine Kang, a Principal at Thoma Bravo. “In a rapidly evolving regulatory landscape, TRM’s capabilities are ever more critical to helping organizations scale and adapt risk management needs. We’re excited to partner with Esteban and his team to support their goal of creating a safer, more inclusive, financial ecosystem.”

Overview of TRM

Since launching in 2018, TRM revenue has grown 490% year-over-year and expanded their team from four people to more than 150. With significant growth in teams across the United Kingdom, Singapore, Australia, Brazil and the UAE over the last two quarters. Members the TRM team include former law enforcement officers from the UK’s National Crime Agency, INTERPOL, Australian Federal Police, IRS-Criminal Investigation, HSI, FBI, U.S. Secret Service, U.S. Department of Justice, U.S. Department of the Treasury, DEA, and others. Since the initial Series B round in December 2021, they have also:

  • Acquired the UK-based investigations and training firm CSITech, a global leader in crypto and blockchain investigative training. Founded by Nick Furneaux, an internationally renowned expert in blockchain forensics
  • Launched Chainabuse, a free community-powered scam reporting platform that empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it
  • Integrated with additional blockchains including Solana, Polygon, and Avalanche to continue providing the industry’s most comprehensive view of blockchain-based activity

About TRM Labs

TRM Labs provides blockchain intelligence to governments, financial institutions, and cryptocurrency companies. In the detection, investigation, and mitigation of cryptocurrency fraud and financial crime. TRM’s risk management platform includes anti-money laundering (AML) solutions for cryptocurrency. Transaction monitoring and wallet screening, investigative tracing, and entity risk scoring, including Know-Your-VASP. These tools enable organizations around the world to safely embrace cryptocurrency-related transactions, products, and partnerships. TRM is based in San Francisco, California and is hiring across engineering, product, sales, and data science.

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About Thoma Bravo

Thoma Bravo is one of the largest private equity firms in the world. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Thoma Bravo has acquired or invested in more than 400 companies representing over $220 billion in enterprise value.

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