The investment, led by Blockchain Capital, doubles the company’s valuation from its Series C raise in February

SAN FRANCISCO, Sept. 09, 2026 (GLOBE NEWSWIRE) -- TRM Labs, the AI investigations company helping to fight modern crime, today announced a strategic Series C expansion valuing the company at USD 2 billion. The round, led by Blockchain Capital, comes as TRM’s ARR has quadrupled in the past three years, and doubles the company’s valuation from its Series C raise in February 2026.

“In February, we led TRM's Series C. Since then, we've had a front row seat to a significant period of growth. This latest investment reflects that growth, and our firm conviction that TRM is the AI investigations platform of the future,” said Spencer Bogart, general partner at Blockchain Capital. “TRM is helping to disrupt almost every facet of digital crime and, more critically, is now defining the category of AI investigations – a horizontal AI use case soon to be as widely known and used as coding and customer service.”

The investment comes at a critical time as the world adjusts to artificial intelligence, including its potential for both good and harm. To protect against those harms, model companies invest billions in guardrails and security protocols, and governments are assessing the role of policy in determining which forms of AI are safe.

In the hands of criminals, however, AI is powerful enough to break through these protections. In 2024, the FBI’s Internet Crime Complaint Center (IC3) reported USD 16 billion in losses to digital crime. In 2025, the number jumped to USD 21 billion, and in 2026, AI adoption by criminals has surged 40 percent year over year, per TRM’s AI-in-Crime Adoption Index. Today, criminals are using AI to bring harm to our society at unprecedented speed and scale.

A new layer of protection is needed – one that focuses on identifying and disrupting the operations of the criminals themselves.

TRM is building this layer. Its AI-native investigations capabilities help investigators make sense of fragmented information across more than a hundred threat categories in order to create a complete picture of criminal activity. It enables human investigators to turn intelligence into disruption – alerting potential targets, freezing illicit funds, and blocking criminal networks.

“Today’s crimefighters are tasked with finding a needle in a haystack. Only, the haystack is enormous, with petabytes of data that today live in disparate systems,” said Esteban Castaño, CEO and co-founder of TRM Labs. “At TRM, we’re building the tools investigators need to operate at AI-scale and fight back against the world’s most complex criminal networks, without compromising on evidentiary standards. If you’re mission-driven, and are looking to build the future of crimefighting, join us.”

Today, more than 600 government agencies and private sector institutions across 75 countries rely on TRM’s platform to disrupt criminal networks and counter national security threats, including digital fraud, scams, cybercrime, child exploitation, money laundering, and sanctions evasion.

TRM is actively hiring talented AI researchers, data scientists, engineers, and domain experts to support its mission to build a safer world for all.

About TRM Labs

TRM Labs is the operating system for modern crimefighters, built to detect and disrupt the criminal networks that exploit frontier technologies, including cryptocurrency and AI. Combining proprietary intelligence, AI-native investigations software, and disruption network infrastructure, the platform is built for high-consequence environments where accuracy, auditability, and security are essential. TRM is trusted by 600+ government agencies and financial institutions across 75 countries to counter fraud, scams, cyber crime, child exploitation, money laundering, and sanctions evasion, among other illicit activities.

To learn more, visit www.trmlabs.com.

For media inquiries, please contact press@trmlabs.com