Blockchain intelligence solution TRM Labs has netted $14m in its Series A, to continue helping companies detect fraud.
Bessemer Venture Partners served as the lead investor, with commitments also coming from PayPal Ventures, Initialized Capital, Jump Capital, Salesforce Ventures, Operator Partners, Blockchain Capital, and executives from Google.
Previous TRM Labs investors also include, Y Combinator, Alumni Ventures Group, The MBA Fund, Tapas Capital and SGH Capital.
TRM’s platform integrates with over a dozen blockchains and analyses billions of virtual asset transactions to detect, in real-time, signs of fraud and financial crime, such as money laundering.
Over the past year, TRM has witnessed 600% revenue growth and doubled its headcount.
Bessemer partner Ethan Kurzweil said, “The team at TRM Labs is building an extraordinary company that is going to be critically important in helping financial institutions safely transition to a new financial system for the digital age.
“TRM will also continue to be a strong partner to governments and regulators around the globe as they work to ensure that illicit actors don’t take advantage of this new financial system.”
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