Thoma Bravo Leads $70 Million Round into Crypto Compliance Firm TRM Labs

Private equity firm Thoma Bravo has led a $70 million Series B extension into TRM Labs, which provides risk management and compliance services for financial institutions, crypto companies and government agencies.

TRM's core product line includes software that allows for the tracing of cryptocurrency transactions, risk assessment of other crypto businesses and transaction monitoring for anti-money laundering compliance.

Through this funding round, the company is looking to build out tools for helping law enforcement fight crypto-related financial crime. Citing its research that indicates over $3 billion was lost in crypto hacks this year, it's looking to, in particular, target products for decentralized finance. Some of its own team are former law enforcement officers from Interpol, the IRS and the FBI, among others.


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