TRM Labs has doubled its valuation to $2 billion as the San Francisco blockchain **** ytics company expands beyond tracking crypto-related crime and moves deeper into artificial intelligence.
The company raised a $70 million Series C round in September at a $1 billion valuation. Six months later, TRM has secured additional funding from existing investors, CEO Esteban Castano told Fortune. He declined to disclose the size of the latest investment, describing it only as "modest."
Castano told the outlet that the company expects annual recurring revenue to reach $100 million in the coming weeks. TRM had about 500 employees as of early September, with offices in London, Singapore and Washington, D.C.
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The company raised a $70 million Series C round in September at a $1 billion valuation. Six months later, TRM has secured additional funding from existing investors, CEO Esteban Castano told Fortune. He declined to disclose the size of the latest investment, describing it only as "modest."
Castano told the outlet that the company expects annual recurring revenue to reach $100 million in the coming weeks. TRM had about 500 employees as of early September, with offices in London, Singapore and Washington, D.C.
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