Blockchain analytics firm TRM Labs has expanded its Series B funding round with a ?60 million injection led by Thoma Bravo.
The intelligence company uses blockchain data and advanced analytics to detect and tackle financial crime.
The expanded round was led by global private equity firm Thoma Bravo, with Goldman Sachs and previous TRM investors Amex Ventures, Citi Ventures, and PayPal Ventures all participating.
TRM’s initial Series B kicked off in December last year, raising ?51 million in a round led by Tiger Global.
The fresh boost of funding will be used to accelerate product development and talent acquisition for building tools to counter fraud and money laundering. It will also help towards addressing growing demand for incident response services and training programmes.
Esteban Castano, co-founder and CEO of TRM Labs, said: “Demand has never been stronger for solutions that help protect crypto users, impede illicit actors, and support blockchain-based innovation.”
Since December, the firm has expanded through its acquisition of CSITech, a blockchain investigations company, as well as the launch of Chainsbuse, a community-driven scam reporting platform.
TRM’s intelligence services are used by law enforcement bodies, regulatory agencies, and financial intelligence units across the globe, with the aim of analysing and preventing crypto-related financial crimes.
Christine Kang, principal at Thoma Bravo, said TRM’s blockchain-based solutions have become increasingly important in crypto’s “rapidly evolving regulatory landscape”.
Founded in 2018, TRM Labs claims members formerly part of organisations such as INTERPOL, the US Secret Service, and the UK’s National Crime Agency.
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Tags: blockchain analytics, blockchain funding, TRM Labs
