Key Notes
- TRM Labs joined the unicorn club with a $70 million Series C led by Blockchain Capital, achieving a $1 billion valuation amid increased regulatory scrutiny.
- The company has delivered 150% average annual revenue growth over five years, serving major clients including Coinbase, PayPal, Visa, and Stripe.
- The funding underscores investor confidence in crypto analytics despite market downturns that have pressured competitors like Chainalysis.
TRM Labs achieved unicorn status today after securing $70 million in Series C funding, pushing the blockchain intelligence firm’s worth to $1 billion.
Blockchain Capital led the round, joined by returning backers Goldman Sachs, Bessemer Venture Partners, Y Combinator, and Thoma Bravo, with Galaxy Ventures participating for the first time. The San Francisco-based company provides software that tracks cryptocurrency transactions to help financial institutions, law enforcement agencies, and governments detect illicit activities.
The milestone comes as regulators worldwide scrutinize crypto more closely and banks face growing pressure to monitor digital asset flows. Even more so now, some reports mention that crimes related to cryptocurrencies reached a record $158 billion in 2025.
TRM Labs has raised USD 70 million in Series C funding — at a USD 1 billion valuation.
This raise fuels our core blockchain intelligence platform and accelerates our investment in AI solutions to disrupt criminal networks and national security threats.
We’re proud to be backed… pic.twitter.com/SMZDBxVMl2
— TRM Labs (@trmlabs) February 4, 2026
TRM Labs Posts 150% Annual Revenue Growth Over Five Years
TRM has posted average annual revenue growth of more than 150% over the past five years, serving clients like Circle, Coinbase, PayPal, Robinhood, Stripe, and Visa, according to its announcement.
“At TRM, we’re building AI for problems that have real consequences for public safety, financial integrity, and national security. This funding allows our world-class team — and the people who will join us next — to innovate alongside institutions on the front lines of the most consequential threats, and expand the potential of AI to meaningfully improve how our critical systems are protected,” said Esteban Castaño, co-founder and CEO, referring to this Series C funding.
Their Series A was in 2021 for $14 million, with support from PayPal and Salesforce, and their funding increased by more than 25% in 2026. The company will use the funding to hire AI researchers and engineers while building out its compliance and investigation tools.
Blockchain Analytics Sector Faces Valuation Pressures Amid Market Downturns
The blockchain analytics sector has drawn heavy venture backing, though recent market downturns have hit earlier valuations hard. Chainalysis, the category leader, raised $170 million at an $8.6 billion valuation in 2022, before dropping to $1.55 billion in 2026, according to Yahoo Finance. Competitor Elliptic secured $60 million in Series C during October 2021 at a valuation between $200 million and $260 million in 2025.
TRM is not the first blockchain analytics firm to reach a unicorn valuation. Still, this movement, given the current crypto market sell-off, suggests investors see continued growth potential in the crypto analytics space, even more so than in companies like Galaxy Digital, which reported net losses of $482 million in the last quarter.
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José Rafael Peña Gholam is a cryptocurrency journalist and editor with 9 years of experience in the industry. He wrote at top outlets like CriptoNoticias, BeInCrypto, and CoinDesk. Specializing in Bitcoin, blockchain, and Web3, he creates news, analysis, and educational content for global audiences in both Spanish and English.
