The expansion follows a $70 million Series C in February, also led by Blockchain Capital. TRM provides blockchain intelligence and investigation software used by more than 600 government agencies and private-sector institutions across 75 countries, the company .
Prior to the February round, the company was valued at $930 million, according to data compiled by Traxcn. It breached the $1 billion valuation mark in the round that included Citi Ventures and Galaxy among the investors.
TRM said its AI-powered tools are used to investigate fraud, money laundering, sanctions evasion and other forms of digital crime.
Digital crime losses reported to the FBI’s Internet Crime Complaint Center rose to $21 billion in 2025 from $16 billion in 2024, while TRM said criminal adoption of AI has risen 40% year over year in 2026, citing its AI-in-Crime Adoption Index.
The new valuation comes about two months after US Immigration and Customs Enforcement (ICE) awarded TRM a roughly $95 million, one-year contract for forensic software and support services for Homeland Security Task Force investigations.
Rival Chainalysis in federal court later that month, alleging ICE’s decision was “arbitrary, capricious, and unreasonable.”
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