Blockchain-based intelligence company TRM Labs has announced a $70 million expansion to its Series B funding round, bringing the total raised to $130 million, reports Cointelepgraph. Among the world’s largest private equity firms, Series B investor Thoma Bravo manages more than $122 billion in assets.
The round was led by Thoma Bravo, with Goldman Sachs and previous TRM investors PayPal Ventures, Amex Ventures and Citi Ventures participating. The expansion follows TRM’s $60 Million Series B raise in December 2021 led by Tiger Global.Funds will support product development and talent acquisition to deliver accessible tools to counter illicit finance and fraud, as well as demand for Incident Response services and training programs, said the company.
“Demand has never been stronger for solutions that help protect crypto users, impede illicit actors, and support blockchain-based innovation,” stated Esteban Castaño, co-founder and CEO of TRM.
Since the initial Series B round in December, the company has acquired CSITech — a crypto and blockchain investigative firm known for its expertise in blockchain forensics — and launched Chainsbuse, a free community-powered scam reporting platform.
TRM claims to provide blockchain intelligence solutions for law enforcement agencies, regulatory bodies, tax authorities and financial intelligence units worldwide, supporting investigations and analysis of crypto-related fraud and financial crime.