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Total funding for TRM Labs now stands at approximately $200 million.

Government collaboration is highlighted, including the IRS planning to appoint Jarod Koopman as chief of Criminal Investigation and FBI officials noting rising crypto-related cases and the importance of private-sector partnerships.

TRM operates from San Francisco with hubs in Los Angeles, New York, Washington, London and Singapore.

Private-sector clients make up about 40% of TRM’s business, a share expected to grow as institutions explore tokenized deposits and other asset types.

The round, led by Blockchain Capital, included participation from major firms such as Goldman Sachs, Citi Ventures, Bessemer, Thoma Bravo and Brevan Howard, valuing the company after the raise at unicorn status.

TRM Labs is expanding its blockchain analytics platform to trace cryptocurrency transactions across multiple chains, meeting rising demand from law enforcement and financial institutions for smarter fraud detection and crime prevention.

The company is emphasizing AI-enabled tools to detect scams and fraud, citing a 500% surge in such activity and positioning TRM as essential infrastructure for a digital asset economy.

TRM aims to provide AI-powered solutions for public and private institutions to safeguard financial integrity, public safety, and national security.

The Series C round was led by Blockchain Capital, with participation from Goldman Sachs, Citi Ventures, Bessemer Venture Partners, Thoma Bravo, Brevan Howard Digital and Galaxy Ventures.

Overall financing for TRM now totals about $220 million since inception, with a broad syndicate including CMT Digital, DRW Venture Capital, Y Combinator and Alumni Ventures.

Funding will support expanding TRM’s team and onboarding personnel to bolster solutions for frontline institutions.