Crypto compliance firm TRM Labs completes $70 million Series C funding round, valuing the company at $1 billion.

PANews reported on February 4th that, according to Fortune magazine, cryptocurrency compliance and investigation startup TRM Labs announced the completion of a $70 million Series C funding round, valuing the company at $1 billion and making it a new "crypto unicorn." The round was led by early investor Blockchain Capital, with participation from traditional institutions such as Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo, and Citigroup Ventures.

Founded in 2018 by Esteban Castaño and Rahul Raina, TRM Labs' blockchain analytics software is widely adopted by law enforcement agencies worldwide and a growing number of private companies using cryptocurrencies for money transfers. Currently, approximately 40% of TRM's clients are from the private sector, and this percentage is growing as financial institutions explore assets such as tokenized deposits and equity. The company has rapidly expanded to 350 people and is leveraging AI technology to address evolving crime tactics.