TRM Labs said Wednesday that it reached a $2 billion valuation after a new fundraising round following its Series C, as the blockchain intelligence company looks to expand its cryptocurrency fraud-tracking business.

The company said the valuation increase followed fresh capital raised after its Series C. TRM Labs specializes in tracking bitcoin and other crypto transactions, with tools used in fraud investigations and digital asset compliance work. Esteban Castaño, the company’s chief executive and co-founder, said investigators face growing complexity as they work through large volumes of data.

According to the announcement, the capital injection was led by executives from Blockchain Capital. The company said the new round doubled its valuation compared with February 2026. It did not disclose the size of the latest financing in the provided information.

TRM Labs also said its annual revenue has quadrupled over the past 36 months. The company plans to use the new funding to strengthen efforts against criminal activity across digital asset networks, as demand for blockchain tracing and fraud-monitoring tools continues to rise.

That expansion comes after earlier growth milestones this year. In February 2026, TRM Labs raised $70 million in a financing that made it a unicorn. In March, it introduced AI agent tools in its TRM Forensics service for law enforcement investigations, and in April it published research on crypto hacking activity tied to North Korean-linked groups.

Why It Matters

The fundraising adds to evidence that investors still see value in the infrastructure layer surrounding crypto, especially businesses tied to compliance, investigations, and security. For institutions entering digital assets, those services are part of the operational framework that supports risk management, regulatory engagement, and internal controls.

It also highlights how anti-fraud and blockchain intelligence are becoming a more important segment of the crypto industry as illicit finance, hacking, and cross-chain transaction monitoring remain persistent challenges. Capital flowing into that category suggests the sector’s next phase is not only about trading and token issuance, but also about building the systems needed to police and support broader adoption.