"When TRM Labs cofounders Esteban Castaño and Rahul Raina moved to San Francisco in 2018 to create a startup, their mentors told them that great companies are built when you believe something about the world that others don't. Along with a passion for technology and national security, the pair shared a conviction that billions of people would use digital assets to move money around the world."
""Then we asked ourselves, 'What's the second order consequence?'" Castaño said. "The world would need intelligence to make sense of that data to ultimately manage risk, and thankfully, that turned out to be true.""
"Today, thanks to its blockchain analytics software, TRM Labs is a familiar brand to law enforcement agencies across the world, and to a growing number of private companies that employ crypto to move money. On Wednesday, the San Francisco-based startup announced a $70 million Series C funding round, led by its seed investor Blockchain Capital, along with a who's who of traditional firms including Goldman Sachs, Bessemer, Brevan Howard, Thoma Bravo, and Citi Ventures. The new funding round values TRM Labs at $1 billion, vaulting it into the ranks of so-called crypto unicorns."
Founders Esteban Castaño and Rahul Raina moved to San Francisco in 2018 convinced that digital assets would enable billions to move money globally. They predicted a secondary need for intelligence to interpret blockchain data and manage risk. TRM Labs developed blockchain analytics used by law enforcement and private companies to trace crypto flows. The company raised a $70 million Series C led by Blockchain Capital with participation from major financial firms, valuing TRM at $1 billion. Early choices to track multiple cryptocurrencies and hire ex-government investigators helped TRM compete and prepare for growth amid tokenization and rising AI-driven fraud.
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