San Francisco-based crypto crime tracing firm TRM Labs has secured additional funding from existing investors just six months after closing a $70 million Series C round in September 2025, according to Fortune. The earlier round valued the company at $1 billion, while the latest investment doubles that figure to $2 billion. CEO Esteban Castano said the company’s mission has expanded beyond blockchain forensics into broader mapping of cybercrime networks. He described the AI segment as a second growth engine rather than a pivot, adding that the firm’s core crypto business remains strong. TRM Labs is also preparing to launch a new investigative platform focused on AI-driven crimes, including deepfake scams, sextortion, and child sexual abuse. Castano said wider cryptocurrency adoption has made it possible to map criminal networks more comprehensively. The company expects to reach $100 million in annual recurring revenue within the next few weeks and currently has about 500 employees, with offices in London, Singapore, and Washington.
San Francisco-based crypto crime tracing company TRM Labs has received additional funding from existing investors just six months after completing a $70 million Series C round in September 2025, according to Fortune. The earlier financing valued the company at $1 billion. The new investment doubles that valuation to $2 billion.
Company says scope now goes beyond blockchain forensics
CEO Esteban Castano said TRM Labs has expanded its mission from blockchain forensics to broader mapping of cybercrime. He said the company’s AI business is a second growth engine rather than a pivot, and that its core crypto business remains strong.
New platform will target AI-enabled crimes
Castano said the company is about to launch a new investigative platform built specifically for AI-driven crimes, including deepfake scams, sextortion, and child sexual abuse.
He also said widespread cryptocurrency adoption has made comprehensive mapping of criminal networks possible. TRM Labs expects to reach $100 million in annual recurring revenue within the next few weeks. The company currently has about 500 employees and offices in London, Singapore, and Washington.
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