Trulioo provides a real-time digital identity verification platform designed for businesses operating in regulated environments. Its solutions help organizations verify individuals and businesses, reduce fraud, and meet compliance requirements without adding friction to onboarding.
The platform supports use cases across banking, fintech, payments, crypto, marketplaces, and global enterprises. Trulioo’s technology enables fast, accurate identity checks while adapting to regional regulatory frameworks.
What Is Trulioo and What Does It Do?
Trulioo, founded in 2011, is a Vancouver-based RegTech company specializing in digital identity verification. The company provides automated Know Your Customer (KYC) and Know Your Business (KYB) solutions that help organizations onboard users securely and compliantly.
Trulioo’s platform allows businesses to verify identities across multiple jurisdictions using trusted data sources. The company employs 201-500 people as of July 2024 and serves customers across financial services, payments, crypto, and regulated digital platforms.
How Much Funding Has Trulioo Raised?
1. Seed Round
- Amount Raised: $2M
- Date: November 2012
- Lead Investors: Blumberg Capital
- Motivation: To develop the initial identity verification platform.
2. Series A
- Amount Raised: $6M
- Date: March 2014
- Lead Investors: BDC, Blumberg Capital
- Motivation: To expand verification coverage and early enterprise adoption.
3. Series B
- Amount Raised: $15M
- Date: December 2015
- Lead Investors: BDC, American Express Ventures, Blumberg Capital
- Motivation: To expand global identity data sources and compliance capabilities.
4. Series B
- Amount Raised: $7.34M
- Date: 2018
- Lead Investors: BDC, Blumberg Capital
- Motivation: To enhance fraud prevention and regulatory tooling.
5. Series C
- Amount Raised: $52.9M
- Date: September 2019
- Lead Investors: Citi Ventures, American Express Ventures
- Motivation: To scale internationally and deepen financial services adoption.
6. Series D
- Amount Raised: $394M
- Date: June 2021
- Lead Investors: TCV
- Motivation: To accelerate growth, expand global coverage, and strengthen enterprise offerings.
Total Funding Raised: $477.24 Million
Current Valuation: $1.75 Billion (as of Jun 2021)
Latest Funding Date: June, 2021
Key Investors
1. TCV
- Details: A growth equity firm investing in category-defining technology companies worldwide.
- Investment Focus Areas: SaaS, fintech, internet platforms.
- Notable Investments: Trulioo, Airbnb, Netflix, Revolut.
2. American Express Ventures
- Details: The corporate venture capital arm of American Express.
- Investment Focus Areas: Fintech, payments, digital identity, enterprise software.
- Notable Investments: Trulioo, Stripe, Stripe-backed fintech platforms.
3. Citi Ventures
- Details: The venture arm of Citigroup focused on financial innovation.
- Investment Focus Areas: Banking technology, payments, cybersecurity, RegTech.
- Notable Investments: Trulioo, Square, Plaid.
4. Blumberg Capital
- Details: A global venture capital firm focused on early and growth-stage technology companies.
- Investment Focus Areas: SaaS, cybersecurity, fintech.
- Notable Investments: Trulioo, Braze, DoubleVerify.
Where Is Trulioo’s Headquarters?
Trulioo is headquartered in Vancouver, Canada, a major hub for fintech, cybersecurity, and digital identity innovation.
What’s Next for Trulioo?
Trulioo is positioned to benefit from increasing global demand for digital identity verification as regulations tighten across financial services and online platforms. The company is expected to deepen its presence in high-growth markets, enhance its KYB capabilities, and expand partnerships with banks, fintechs, and crypto platforms worldwide.
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