American blockchain forensic firm TRM Labs has raised $70 million in its Series B funding round, bringing the total amount of raised money to $130 million.
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The company said in a press release that the round was led by Thoma Bravo, with participation from Goldman Sachs, PayPal Ventures, Citi Ventures, and others. The latest expansion follows TRM's $60 million funding as part of Series B raise in December last year, TRM Labs noted.
With the funding, the San Francisco-based firm wants to make "additional strategic investments in product development" as well as hire more staff to counter illicit finance and fraud.
Founded in 2018, TRM Labs offers blockchain intelligence solutions to cryptocurrency businesses such as Circle, Shopify, MoonPay, OpenSea. For instance, Uniswap with the help of TRM's technology so far has blacklisted over 250 addresses, which are alleged to be linked to cybercrime, fraud, and money laundering.
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