Cryptocurrency compliance company TRM Labs has completed a $70 million Series C funding round, led by Blockchain Capital

According to Fortune magazine, cryptocurrency compliance and investigation startup TRM Labs has announced the completion of a $70 million Series C funding round, achieving a valuation of $1 billion and becoming a newly minted "crypto unicorn."

This round of financing was led by early investor Blockchain Capital, with traditional institutions such as Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo, and Citi Ventures participating. TRM Labs was founded in 2018 by Esteban Castaño and Rahul Raina, and its blockchain analysis software is widely adopted by global law enforcement agencies and an increasing number of private companies using cryptocurrency for fund transfers.

Currently, about 40% of TRM's clients come from the private sector, and this proportion is growing as financial institutions explore tokenized deposits, equity, and other assets. The company's team has rapidly expanded to 350 people and is leveraging AI technology to combat the evolving tactics of crime.