TRM Labs raises Series C extension round, doubling valuation to $2 billion as AI crime-fighting services scale.

TRM Labs, a San Francisco-based cryptocurrency forensics and crime-fighting platform, has closed an add-on to its Series C funding round that has resulted in its valuation doubling to $2 billion. The company, which initially raised $70 million in September for its Series C at a $1 billion valuation, is expanding its focus beyond blockchain intelligence to map online crime more broadly, including AI-driven scams. CEO Esteban Castano emphasized that AI represents a second growth engine for the business, not a pivot, as the company rolls out new AI-detection capabilities for customers. The round demonstrates strong investor confidence in TRM Labs' horizontal approach to criminal network identification across cryptocurrency, cyber crime, and other domains.