TRM Labs valuation doubles to $2 billion following funding extension

Blockchain intelligence firm TRM Labs (TRM Labs) has doubled its valuation to $2 billion after completing an extension to its Series C funding round, led by Blockchain Capital. The company previously raised $70 million in a Series C round in February, which pushed its valuation past the $1 billion mark with participation from Citi Ventures and Galaxy. TRM Labs reported a fourfold increase in annualized recurring revenue over the past three years.