TRM Labs Doubles Valuation to $2B Following Series C Funding Expansion
Blockchain intelligence company TRM Labs has doubled its valuation to $2 billion following an expansion of its Series C funding round led by Blockchain Capital. While the size of the latest investment remains undisclosed, TRM Labs reported that its annual recurring revenue has quadrupled over the past three years. The firm's AI-powered tools are widely used to investigate fraud, money laundering, and sanctions evasion across the globe.
Funding Expansion and Valuation Increase
TRM Labs announced an expansion of its Series C funding round led by Blockchain Capital. Although the total amount of the round was not disclosed, the company was previously valued at $930 million before the February round, which surpassed the $1 billion mark with investors including Citi Ventures and Galaxy. The latest expansion doubled TRM Labs’ valuation to $2 billion.
Business Growth and Customer Reach
Over the past three years, TRM Labs’ annual recurring revenue has quadrupled. The company’s blockchain intelligence and investigation software is used by more than 600 government agencies and private-sector institutions across 75 countries, providing tools for analyzing and investigating blockchain-related crimes.
AI's Role in Combatting Digital Crime
TRM Labs emphasizes that its AI-powered tools are employed to detect and investigate fraud, money laundering, sanctions evasion, and other digital crimes. Citing FBI data, the company noted that losses reported from digital crimes rose from $16 billion in 2024 to $21 billion in 2025. Moreover, TRM introduced its AI-in-Crime Adoption Index, which indicates that criminal use of AI has increased by 40% in 2026.
ICE Contract and Legal Challenges
About two months ago, the U.S. Immigration and Customs Enforcement (ICE) awarded TRM a roughly $95 million, one-year contract to provide forensic software and support services for Homeland Security Task Force investigations. However, in the same month, competing firm Chainalysis challenged the sole-source contract in federal court, alleging that ICE’s decision was arbitrary, capricious, and unreasonable.
Why it matters
This development highlights the rapid growth and significance of the blockchain analytics market amid rising digital crime and increased AI usage by both law enforcement and criminals. TRM Labs’ doubled valuation reflects investor confidence in the company as a pivotal player in combating fraud and money laundering within the crypto space. Additionally, the awarding of a major contract from ICE and the ensuing legal dispute underscore the intensifying competition and critical role of blockchain intelligence technologies for government agencies in the U.S. and beyond.
Prepared from the source material with AI-assisted editing and checked against the supplied facts.
Open original source ↗