Trulioo provides electronic identity and address verification globally, with access to over 450 different data sources including governments, credit bureaus, phone records and nontraditional sources. The company says it performs verifications in encrypted transactions and does not view users' personal data or the datasets being compared. Its services are used by e-commerce and financial firms seeking secure customer verification as businesses digitize. CEO Steve Munford highlighted the firm's privacy-focused, encrypted approach to verification. Trulioo announced a $394 million funding round that values the company at $1.75 billion. The company and investors pointed to accelerating digitization and a large projected U.S. digital identity market as drivers for the investment. Trulioo offers GlobalGateway, an API that provides electronic identity and business verification for firms in ecommerce, payments, remittance and financial services. Its platform covers about 5 billion people and 250 million business entities across 195 countries and pulls from over 400 vetted data sources, including dozens of mobile network operators, to enhance fraud prevention and authentication. GlobalGateway screens customers against watchlists and records every identity verification match for auditability. The company was founded in 2011 by Stephen Ufford and Tanis Jorge and operates offices in Vancouver, San Francisco, and Dublin with a 130-strong workforce. Trulioo plans to scale operations into new markets and add 70 employees. Financially, the company announced C$70 million (about $52.8 million) in new funding and has now raised a total of $96.6 million. Trulioo provides bank-grade identity verification through its GlobalGateway product, enabling businesses to perform online identity checks via a single portal or API. The platform combines advanced analytics from cyber and traditional data sources to help companies meet AML and KYC requirements. GlobalGateway verifies more than 4 billion people across over 40 countries using 145 data sources. The company plans to use the financing to scale its business, including expanding its sales team, technical infrastructure, customer support, and data acquisition. Trulioo was founded by Stephen Ufford, who serves as CEO. As part of the deal, BDC Capital’s partner Andrew Lugsdin will join the company’s board of directors. Trulioo provides global identity-verification services and advanced analytics that assess whether online identities are authentic, machine generated or fraudulent. Its analytics draw on internet identity information and user behavior from social login providers, ad networks, mobile applications, e-commerce websites, social networks and customer data. The platform covers more than 3 billion people in 35 countries through a single integration and has verified over 100 million online identities. Trulioo now services more than 300 customers worldwide. Led by founder and CEO Stephen Ufford and launched in 2011, the company has raised venture capital previously and plans to use new strategic investment to drive further innovation for customers. Prior financing totaled over $10M from investors including Blumberg Capital, Tenfore Holdings and BDC VC. Trulioo builds a platform that analyzes social and online profiles (initially Facebook, now including Google and LinkedIn) to estimate the likelihood that accounts are human rather than bots. The company has performed more than 100 million verifications. It uses these signals so businesses can focus marketing and other efforts on real people. Trulioo recently raised a $6M Series A to support growth and product development. CEO Stephen Ufford said the funds will be used to hire new executives, expand into international markets such as the UK, and add support for additional social networks like VK, Qzone, and Renren. The company has now raised a total of $8.3M.

Total raised

$470M

Funding rounds

7

Latest round

Series D

Latest activity

Jun 2021