TRM Labs raised $70 million in a Series C funding round, valuing the company at $1 billion and achieving unicorn status. The round included institutional participants such as Goldman Sachs, as well as other venture capital investors.
TRM’s Series C funding round represented a $70 million injection, propelling the company to unicorn status, according to the coverage. The round combined venture capital with strategic investors from the financial sector, with Blockchain Capital as the lead investor and participation from Goldman Sachs, Citi Ventures, Bessemer Venture Partners, Thoma Bravo, Brevan Howard Digital, CMT Digital, DRW Venture Capital, Y Combinator, Alumni Ventures, and Galaxy Ventures.
This round builds on a strong track record of previous funding. TRM had raised $5.9 million in seed rounds, a $14 million Series A in June 2021, a $60 million Series B in December 2021, and a $70 million Series B extension in November 2022. Collectively, the accumulated capital approaches the figures disclosed in the transaction, solidifying the company’s financial position.
Regarding the product, TRM offers blockchain intelligence used by law enforcement and financial institutions to track transactions, filter wallets, and support investigations. Its clients include US agencies such as the IRS and the FBI, as well as banks and crypto companies. The company highlighted a sharp increase in AI-assisted scams, citing a 500% growth, which is driving demand for advanced tracking and risk assessment models.
TRM’s market projections after achieving unicorn status
Its core offering includes transaction tracking, wallet filtering, and entity risk scoring, with a client base spanning the public sector, traditional banking, and the crypto ecosystem. From a market perspective, coverage indicates increased institutional interest in crypto risk management tools and projections estimate that compliance spending will rise from $2.9 billion in 2025 to $14.6 billion in 2032.
Investors described the funding round as strategic. In particular, Goldman Sachs’s investment was linked to its broader activity in digital assets, including exposure to Bitcoin and Ethereum ETFs and tokenization projects, which increase the need for robust compliance solutions. For exchanges, banks, and asset managers, improved analytics reduce operational and regulatory risk; for TRM, the funding would allow it to accelerate investment in product-based AI and expand its team globally.
Overall, the move reinforces the institutionalization of crypto infrastructure and demonstrates a greater willingness of capital to support compliance-focused providers. This trend could tighten due diligence standards and accelerate the adoption of third-party monitoring in trading, custody, and tokenization processes.
