Thoma Bravo manages over $122 billion of assets for one of the largest private-equity firms. contributed $70 million in funding to Blockchain-based intelligence company TRM Labs’s series B funding round, totalling the amount raised to $130 million.
Goldman Sachs and Citi Ventures were also part of this round. The round follows TRM’s $60 Million Series B raise in December 2021 led by Tiger Global.
TRM Labs products are primarily focused on allowing cryptocurrency transactions to be traced, risk assessment of crypto-businesses, and transaction monitoring to ensure anti-money laundering compliance.
The blockchain firm claims its products are used by law enforcement agencies, tax authorities, regulatory bodies, and financial intelligence units worldwide to investigate and analyze crypto-related fraud and financial crimes.
According to the company the funds will be used to make more strategic investments in product design, to create tools to combat illicit finance and fraud within the crypto space, as well as to meet the demand for its training programs and incident response services.
Esteban Castaño, co-founder and CEO of TRM, noted:
“Demand has never been stronger for solutions that help protect crypto users, impede illicit actors, and support blockchain-based innovation. As the industry continues to mature, TRM is setting the standard for data, products, and training that equip enterprises and governments to combat fraud and financial crime, even as new threats emerge.”
TRM Labs, a UK-based investigative and training company, has purchased CSITech. Chainsbuse is a community-powered, free scam reporting platform. It’s also integrated with reputable blockchains like Polygon, Solana and Avalanche, allowing for more insight into blockchain-based activity.
TRM Labs was founded in 2018 and has experienced a 490% increase in revenue year over year. Its members include former law enforcement officers from the United Kingdom’s National Crime Agency, INTERPOL, Australian Federal Police, the United States Internal Revenue Service’s Criminal Investigation division, the U.S. Secret Service, and the U.S. Department of the Treasury, among others.
TRM Labs recently appointed Sujit Raman as its General Counsel. He was a former Associate Attorney General at U.S. Department of Justice (DOJ), and was the chair of the task force that created the 2020 DOJ Cryptocurrency enforcement Framework.
As reported by Blockchain.News Raman’s responsibility includes managing the company’s legal affairs, supporting global compliance and coordinating investigations and law enforcement activities.
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