TRM Labs Doubles Valuation to $2 Billion Amid Rapid Revenue Growth

Blockchain intelligence firm TRM Labs has doubled its valuation to $2 billion after expanding its Series C funding round led by Blockchain Capital. The company announced that it did not disclose the amount of the latest investment, but stated that its annual recurring revenue has quadrupled over the past three years.

The new financing expansion comes on the heels of a $70 million Series C round in February, which was also led by Blockchain Capital. TRM provides blockchain intelligence and investigation software used by more than 600 government agencies and private-sector organizations across 75 countries.

TRM's products target investigations into fraud, money laundering, sanctions evasion, and other forms of digital crime. The company points to reported losses submitted to the FBI's Internet Crime Complaint Center rising to $21 billion in 2025 from $16 billion in 2024.