Blockchain-powered intelligence firm TRM Labs reportedly disclosed details regarding a $70 million expansion to its Series B funding round, bringing the total raised to $130 million. 

Specifically, series B investor Thoma Bravo, among the global top major private equity entities, is currently handling management for over $122 billion in assets.

The round was led by Thoma Bravo, with Goldman Sachs and previous TRM investors PayPal Ventures, Amex Ventures and Citi Ventures taking part in. 

The expansion occurred not long after TRM’s $60 Million Series B fundraising in December last year, led by Tiger Global.

Funds will be financially dedicated to product development and talent acquisition to offer accessible tools to fight against illicit finance and fraud, along with tackling demand for incident response services and training programs, per the firm.

“Demand has never been stronger for solutions that help protect crypto users, impede illicit actors, and support blockchain-based innovation,” stated Esteban Castaño, co-founder and CEO of TRM.

Since the initial Series B round in December, the firm has completed the acquisition of CSITech – a crypto and blockchain investigative firm that gathered a reputation for its knowledge in blockchain forensics – and introduced Chainsbuse, a free community-powered scam reporting platform.

TRM claims to offer blockchain intelligence tools for law enforcement agencies, regulatory bodies, tax authorities and financial intelligence units throughout the globe, assisting investigations and analyses of crypto-associated fraud and financial crime.

Christine Kang, principal at Thoma Bravo, reportedly remarked that TRM’s blockchain intelligence solutions are garnering an increasing level of importance in the “rapidly evolving regulatory landscape” that is crypto.