# TRM Labs funding: rounds and investors > TRM Labs has raised $74M across 2 rounds since 2019. Investors include Blockchain Capital, Y Combinator and Alumni Ventures. Every round with its source. Source: https://millionrounds.com/company/trm-labs (Millionrounds; every figure on the page links to its filing or article) United States · [Series C startup](https://millionrounds.com/companies) # Who invested in *TRM Labs* 2 rounds we have observed, with the 13 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Cybersecurity Web3 & Crypto Raised 9 months ago Y Combinator: S19 Funding summary Updated 26 Oct 2026 **$74M** raised across 2 rounds since 2019, from 4 sources **$4.2M** Round **$70M** Series C - **Latest round:** Series C, $70M Feb 2026 - **Led by:** Blockchain Capital - **Step-up i:** 16.7× - **Investors:** 13 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2020 2021 2022 2023 2024 2025 2026 **$4.2M** Round **$70M** Series C - **First round:** Round, $4.2M - **Biggest round:** $70M - **Between rounds:** 6.3 years ## The rounds - **Feb 2026** Series C **$70M** *9 new* *2 returning* [Blockchain Capital](https://millionrounds.com/fund/blockchain-capital) Lead [Y Combinator](https://millionrounds.com/fund/y-combinator) [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) [B Capital](https://millionrounds.com/fund/b-capital) [Quiet Capital](https://millionrounds.com/fund/quiet-capital) [CMT Digital](https://millionrounds.com/fund/cmt-digital) [Citi Ventures](https://millionrounds.com/fund/citi-ventures) [Brevan Howard](https://millionrounds.com/fund/brevan-howard) [Thoma Bravo](https://millionrounds.com/fund/thoma-bravo) Reported by TechStartups and 2 others - **Nov 2019** Round **$4.2M** *4 new* [Y Combinator](https://millionrounds.com/fund/y-combinator) [Initialized Capital](https://millionrounds.com/fund/initialized-capital) [Blockchain Capital](https://millionrounds.com/fund/blockchain-capital) [PayPal Ventures](https://millionrounds.com/fund/paypal-ventures) Reported by FinSMEs ## Founders and team From TRM Labs's own website: 4 on the team. - **Esteban Castaño** CEO, TRM Labs - **Sujit Raman** Chief Legal Officer - **Ari Redbord** Global Head of Policy - **Ali Comolli** Global Capacity Building Lead Advisers *Tom Armstrong* ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Round** 2019 **Series C** 2026 [Blockchain Capital](https://millionrounds.com/fund/blockchain-capital) L [Y Combinator](https://millionrounds.com/fund/y-combinator) [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) [B Capital](https://millionrounds.com/fund/b-capital) [Quiet Capital](https://millionrounds.com/fund/quiet-capital) [Initialized Capital](https://millionrounds.com/fund/initialized-capital) [CMT Digital](https://millionrounds.com/fund/cmt-digital) [Citi Ventures](https://millionrounds.com/fund/citi-ventures) ## Everyone who backed them [Blockchain Capital](https://millionrounds.com/fund/blockchain-capital) VC firm **2** rounds, led 1 [Y Combinator](https://millionrounds.com/fund/y-combinator) Accelerator **2** rounds [Alumni Ventures](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund) VC firm **1** round [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) VC firm **1** round [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) Private equity **1** round [B Capital](https://millionrounds.com/fund/b-capital) VC firm **1** round [Quiet Capital](https://millionrounds.com/fund/quiet-capital) VC firm **1** round [Initialized Capital](https://millionrounds.com/fund/initialized-capital) VC firm **1** round [CMT Digital](https://millionrounds.com/fund/cmt-digital) VC firm **1** round [Citi Ventures](https://millionrounds.com/fund/citi-ventures) Corporate VC **1** round [PayPal Ventures](https://millionrounds.com/fund/paypal-ventures) Corporate VC **1** round [Brevan Howard](https://millionrounds.com/fund/brevan-howard) Asset manager **1** round [Thoma Bravo](https://millionrounds.com/fund/thoma-bravo) Private equity **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=trm-labs). ## Also claim to have backed them These 6 firms list TRM Labs as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Castle Island Ventures](https://millionrounds.com/fund/castle-island-ventures) VC firm Per its own site [Geodesic Capital](https://millionrounds.com/fund/geodesic-capital) VC firm Per its own site [SGH CAPITAL](https://millionrounds.com/fund/sgh-capital) VC firm Per its own site [Chemistry](https://millionrounds.com/fund/chemistry) VC firm Per its own site [The MBA Fund](https://millionrounds.com/fund/the-mba-fund) VC firm Per its own site [Hyperscale Fund](https://millionrounds.com/fund/hyperscale-fund) Hedge fund Per its own site ## Quick answers about TRM Labs ### Who invested in TRM Labs? TRM Labs's investors include Blockchain Capital, Y Combinator, Alumni Ventures, Bessemer Venture Partners and Goldman Sachs, and 8 more on record. Blockchain Capital led its latest round. ### How much has TRM Labs raised? TRM Labs has raised $74M across 2 rounds since 2019. ### When did TRM Labs last raise? TRM Labs's most recent round was a Series C of $70M in Feb 2026, led by Blockchain Capital. ### What was TRM Labs's biggest round? Its most recent round, $70M in Feb 2026, is also its largest on record. ### Who backed TRM Labs first? TRM Labs's first round on record, in Nov 2019, was backed by Y Combinator, Initialized Capital and Blockchain Capital and 1 others. ### What stage is TRM Labs at? TRM Labs's latest named round is a Series C, in Feb 2026. ### Where is TRM Labs based? TRM Labs is based in the United States. ### Who led TRM Labs's rounds? Blockchain Capital led the Series C in 2026. ## Companies like TRM Labs In the same sector, and raised in the last eighteen months. 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