TRM Lab Valuation Doubles to $20 Billion After Additional Funding

TRM Lab, a blockchain analysis company, has completed a Series C funding round, increasing its valuation to $20 billion. The round was led by investment firm Blockchain Capital. This is a significant increase from its previous valuation of $10 billion in February, when the company announced a $70 million Series C funding round.

The company provides solutions for tracking and analyzing cryptocurrency flows on the blockchain, which are used by law enforcement agencies, financial institutions, and cryptocurrency exchanges to detect and prevent money laundering and other crimes. TRM Lab is now working to develop an AI-based crime investigation platform that can help authorities freeze illicit funds and disrupt criminal networks.

The company's annual recurring revenue (ARR) has increased fourfold over the past three years, with its platform used by over 600 government and private institutions in more than 75 countries.