Goldman Sachs, PayPal, American Express and Citi have joined in a $70 million funding round in blockchain intelligence firm TRM Labs.
The latest investment, an extension to the company's $60 million Series B round in December, was led by Thoma Bravo, with participation from first-time investor Goldman Sachs and previous TRM investors including PayPal Ventures, Amex Ventures, Citi Ventures.
Other big ticket investors in previous rounds include Visa and JPMorgan.
TRM Labs' platform combines cross-chain data with threat intelligence, advanced analytics, and intuitive visualisations to help organisations - including FIs, crypto firms and regulators - detect crypto fraud and financial crime.
From launch in 2018, TRM has grown revenue 490% year-over-year and expanded its team from four people to more than 150, with significant personnel growth across the United Kingdom, Singapore, Australia, Brazil and the UAE over the last two quarters.
The firm's private sector clients include some of the most prominent organizations in the crypto and financial services space, including businesses like Circle, Shopify, MoonPay, OpenSea, Uniswap and others.
Since the initial Series B round in December 2021, the company has acquired the UK-based investigations and training firm CSITech, and launched Chainabuse, a free community-powered scam reporting platform that empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it.
“Demand has never been stronger for solutions that help protect crypto users, impede illicit actors, and support blockchain-based innovation,” says Esteban Castaño, co-founder and CEO of TRM. “As the industry continues to mature, TRM is setting the standard for data, products, and training that equip enterprises and governments to combat fraud and financial crime, even as new threats emerge.”