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Thoma Bravo, a private equity company with $122 billion worth of assets under management, headed the $70 million Series B fundraise round that TRM Labs, a provider of blockchain analytics, raised. The financing increased overall funds to $130 million, which TRM Labs would spend for product development and recruiting. The round also includes returning investors PayPal Ventures, Amex Ventures, and Citi Ventures, in addition to new investment Goldman Sachs. https://twitter.com/trmlabs/status/1590420305985830912 Blockchain intelligence startups have attracted investment due to regulatory uncertainty and the growing involvement of traditional financial companies in the cryptocurrency market. In September 2021, Mastercard purchased TRM competitor CipherTrace in May, Chainanalysis received $170 million at an $8.6 billion value.
Capabilities of TRM Labs are Essential
According to Thoma Bravo Principal Christine Kang in the news announcement, TRM has distinguished itself as the leading blockchain intelligence solution to the private and public sectors, with a distinct range of asset coverage, cross-chain insights, and a degree of product development. The capabilities of TRM are more essential than ever in helping organizations expand and adjust their demands for risk management in light of a regulatory environment that is continually changing. Banks, private enterprises, law enforcement organizations, and all authorities utilize the company's blockchain intelligence tools to look into and evaluate financial fraud and other crimes using cryptocurrencies. Customers include the Federal Bureau of Investigation Internal Revenue Service, the US division of cryptocurrency exchange FTX, and USDC stablecoin issuer Circle.