According to Fortune, blockchain forensics startup TRM Labs announced a new follow-on funding round led by existing investors, with the amount undisclosed. Driven by rapid growth in its AI business, the company’s valuation has doubled to $2 billion from $1 billion six months ago. CEO Esteban Castano stated that the company expects to reach the milestone of $100 million in annual recurring revenue (ARR) soon, and will officially launch in November a new AI-powered criminal investigation platform tailored for law enforcement, focusing on AI-driven crimes such as financial fraud, deepfakes, and child sexual exploitation. Castano emphasized that AI is a second growth engine, not a business transformation, with blockchain intelligence remaining the core pillar of the business. The company currently employs approximately 500 people and has offices in London, Singapore, and Washington, D.C.
TRM Labs valuation doubles to $2 billion amid launch of AI crime detection platform
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Summary
TRM Labs, a blockchain forensics firm, announced a new funding round led by existing investors, raising its valuation to $2 billion. This AI and crypto news surge comes as the company prepares to launch an AI-powered crime detection platform in November. CEO Esteban Castano said the tool will assist law enforcement in combating AI-driven crimes such as fraud and deepfakes. The company is on track to achieve $100 million in annual recurring revenue and employs 500 people across London, Singapore, and Washington, D.C. An update on a potential token launch is expected as the company expands its AI capabilities alongside its core blockchain intelligence business.
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