$2 Billion Valuation for TRM Labs Ahead of AI Crime Investigations Platform Launch
TRM Labs, a blockchain intelligence company, has reached a valuation of $2 billion after securing additional funding from existing investors. This marks a significant increase from its previous valuation of $1 billion in March, when it closed a $70 million Series C round led by Blockchain Capital. The latest funding comes entirely from existing backers, and the exact amount raised was not disclosed.
Chief executive Esteban Castano described the investment as 'modest', but declined to provide further details on the valuation or ownership structure of the company. TRM Labs expects its annual recurring revenue to reach $100 million within weeks, according to Castano's statement.
The company is preparing to launch an AI-powered crime investigations platform in November, which will help investigators examine deepfake fraud, sextortion and child sexual abuse cases. This move marks a significant expansion for TRM Labs beyond its existing services, which focus on blockchain analytics and cryptocurrency tracing.