Blockchain intelligence platform TRM Labs has completed a $70 million Series C funding round, reaching a $1 billion valuation, Cointelegraph reported on Feb. 4.
The round included Blockchain Capital, Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Citi Ventures and Galaxy Ventures.
TRM Labs develops AI solutions to help public and private institutions respond to cybercrime, with a focus on blocking automated illicit activity. Esteban Castano (에스테반 카스타뇨), co-founder and CEO of TRM Labs, said, “We are building AI for public safety, financial integrity and national security.”
TRM Labs plans to use the funds to hire more AI researchers, data scientists, engineers and financial crime specialists. It aims to strengthen AI-led investigative capabilities to block illicit activity and upgrade its financial crime risk management solutions. TRM Labs operates hubs in Los Angeles, New York, Washington, London and Singapore, centred on its San Francisco headquarters.
Chi-gyu Hwang
delight@d-today.co.kr