Overview
- Blockchain Capital led the round with participation from Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo and Citi Ventures, valuing TRM at $1 billion.
- TRM says it is expanding AI-driven analytics after reporting a 500% increase in AI-enabled scams and fraud.
- The company’s software is used by agencies including the IRS and FBI, as well as major banks, to trace transactions across multiple blockchains.
- Executives credit early multi-chain coverage and hires of former investigators for gains against incumbents like Chainalysis, with revenue growing about 50% annually in recent years.
- TRM partners with Tether and Tron in the T3 Financial Crime Unit, which CoinDesk reports has frozen more than $300 million in tainted assets.