TRM Labs Valuation Doubles to $2 Billion Amid Growing Demand for Blockchain Intelligence
TRM Labs has more than doubled its valuation to $2 billion following an expansion of its Series C funding round led by Blockchain Capital. This comes just two months after the company secured a $95 million contract with US Immigration and Customs Enforcement (ICE) for forensic software and support services.
The latest investment is not disclosed, but the company's annual recurring revenue has quadrupled over the past three years. TRM provides blockchain intelligence and investigation software used by more than 600 government agencies and private-sector institutions across 75 countries.
The company's AI-powered tools are used to investigate fraud, money laundering, sanctions evasion, and other forms of digital crime. Digital crime losses reported to the FBI's Internet Crime Complaint Center rose to $21 billion in 2025 from $16 billion in 2024.