TRM Labs Valuation Doubles to $2 Billion After Expanded Series C Round

TRM Labs, a blockchain intelligence company focused on investigations and compliance, has more than doubled its valuation to $2 billion after expanding its Series C funding round. The round was led by Blockchain Capital, according to an announcement released Wednesday.

The company says its annual recurring revenue has quadrupled over the past three years. TRM did not disclose the amount raised in the latest expansion.

TRM's tools are used by more than 600 institutions across 75 countries, including government agencies. The company frames its growth as evidence of rising demand for investigation-grade blockchain analytics.