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Crypto-tracking firm Solidus Labs has raised $15 million in strategic funding led by Liberty City Ventures with participation from GSR and Exor Seeds. The investment brought the firm’s total funding close to $40 million. Solidus last raised $20 million in a Series A round in May.

The New York-based firm offers machine learning–powered trade surveillance and transaction monitoring for digital assets that can detect, address and report suspicious behavior. Solidus was founded in 2018 by former Goldman Sachs bankers with a belief that compliance tools would help drive mainstream crypto adoption, including the launch of crypto exchange-traded funds (ETFs).

Crypto platforms were the initial customer base for Solidus Labs, but the company also has a growing segment among banks and traditional financial institutions. Solidus plans to expand into new use cases around decentralized finance (DeFi) platforms and law enforcement.

Read more: Solidus Labs Raises $20M From VCs, Ex-Regulators to Fight Crypto Market Manipulation

Solidus has become popular with former regulators. The Series A round in May included participation from Commodity Futures Trading Commission (CFTC) alums Chris Giancarlo and Daniel Gorfine and former Securities and Exchange Commission (SEC) Commissioner Troy Paredes. The company recently hired former Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger as vice president of regulatory affairs.

“The additional funding will help us shortcut some of the development roadmap to meet the demand we’re being hammered with in the DeFi space,” Solidus Labs CEO Asaf Meir told CoinDesk.

“Solidus stands out as a unique suite of high-quality infrastructure that’s highly needed by the market at this point in time,” Richard Rosenblum, GSR co-founder and president, said to CoinDesk.