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- Trulioo
Trulioo Valuation, Funding & Investors
Trulioo is valued at $1.8B as of June 2021.
Last Trulioo valuation
$1.8B
Series D · Jun 2021
Last Trulioo funding round
$394M
Series D · Jun 2021
Cumulative funding Trulioo raised
$472M
across 6 funding rounds
Key investors in Trulioo
Blumberg Capital
BDC Capital
Amex Ventures
Goldman Sachs
Citi Ventures
Mouro Capital
About Trulioo
Trulioo is a global identity verification provider operating a network that performs instant checks on personal identities, documents, and businesses using data from over 450 sources in 195 countries. It supports KYC and AML compliance for fintech, e-commerce, and crypto sectors. Headquartered in Vancouver, Canada, and founded in 2011, Trulioo processes billions of verifications annually for clients like PayPal and Revolut.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based, Subscription
Valuation
$1.8B (Jun 2021)
Trulioo Valuation
Trulioo is currently valued at $1.8B, based on its Series D in June 2021.
The $394M round was led by TCV, with participation from Plug and Play, Blumberg Capital, Amex Ventures, Stereo Capital, Goldman Sachs and 3 other investors.
Trulioo valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2021 | Series D | $1.8B |
Trulioo Funding History
Trulioo has raised a total of $472M across 6 funding rounds.
Trulioo's first fundraising round was a $6M Series A in March 2014. The most recent completed round was a $394M Series D in June 2021.
Trulioo funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2021 | Series D | TCV (lead); Plug and Play; Blumberg Capital; Amex Ventures; Stereo Capital; Goldman Sachs; Citi Ventures; Mouro Capital; Blue Cloud Ventures | $394M | $1.8B | Trulioo, a Vancouver-based leader in global identity verification, completed a $394 million USD Series D funding round on June 7, 2021, led by TCV with participation from Amex Ventures, Citi Ventures, Blumberg Capital, and Mouro Capital, achieving a $1.75 billion USD post-money valuation and unicorn status. The round included primary financing and secondary capital, enabling early investors to realize some liquidity while providing capital for expansion. TCV's Jake Reynolds and Amol Helekar joined the board. The funding supports Trulioo's ambition to evolve into an end-to-end identity platform, emphasizing product innovation, AI/ML capabilities, and global market expansion amid accelerated digital transformation driven by the shift to online services during COVID-19. The company verifies five billion consumers and 330 million business entities worldwide via a single API, aiding compliance, due diligence, and fraud prevention for enterprises across financial services and other verticals. Trulioo had previously raised funds in earlier rounds, including a $52.9 million Series C in 2019 led by Citi Ventures and Amex Ventures, building toward a total of approximately $474-477 million raised by mid-2021. The Series D positioned Trulioo to capture share in the growing global identity verification market, projected to reach $17.8 billion USD by 2026, with recent expansions into new verticals, leadership enhancements, and offices in Dublin, Austin, and San Diego. |
| Sep 2019 | Series C | Goldman Sachs (lead); Blumberg Capital; Amex Ventures; Goldman Sachs Growth Equity; Citi Ventures; Business Development Bank of Canada; Mouro Capital | $53M | - | Trulioo, a Vancouver-based online identity verification platform founded in 2011, provides global identity checks for companies through a single API, verifying five billion consumers and 330 million business entities to support compliance, due diligence, and fraud prevention. In September 2019, it raised CAD 60 million (approximately USD 52-70 million) in a Series C round led by Goldman Sachs Growth Equity, with participation from Citi Ventures, Santander InnoVentures, and American Express Ventures. An additional CAD 10 million was raised earlier that year from Blumberg Capital and Business Development Bank of Canada, bringing total funding at the time to around CAD 96.6 million or USD 80.7 million. The funds were allocated to hiring 70 additional employees to expand from 130 staff, investing in product and technology development, and growing sales teams to acquire more data across countries and enhance software processing capabilities. CEO Stephen Ufford highlighted the company's plans for organic scaling amid rising needs for trust, privacy, and inclusion in a digital economy. Citi Ventures' Matt Carbonara noted Trulioo's positioning to meet diverse global identity verification demands. |
| Jul 2018 | Series B | BDC Capital (lead) | $8M | - | Trulioo raised USD 7.7 million in its Series B funding round in July 2018 led by BDC Venture Capital to enhance its technology and expand global reach. The company provides electronic identity and address verification for individuals and businesses worldwide. This round followed a prior Series B of USD 11.5 million in December 2015 also led by BDC Venture Capital. Trulioo, founded in 2011, offers a Digital Identity Network API for developers to verify identities of five billion consumers and 330 million businesses. The 2018 funding supported fraud prevention and regulatory tooling enhancements. |
| Dec 2015 | Series B | BDC Capital (lead); Blumberg Capital; Amex Ventures; Tenfore Holdings | $11M | - | Trulioo, a Vancouver-based identity verification company founded by Stephen Ufford, raised $15 million in equity financing on December 14, 2015, from American Express Ventures and existing investors BDC Capital, Blumberg Capital, and Tenfore Holdings. This marked the largest financial technology financing round in Canada for 2015 and brought the company's total funding to $26.6 million since 2012. BDC Capital partner Andrew Lugsdin joined Trulioo's board following the investment. Trulioo's flagship product, GlobalGateway, connects clients to over 100 data sources in more than 40 countries, enabling real-time ID verification for over 4 billion consumers, with a focus on emerging markets and cross-border compliance for payments, ecommerce, and banking. The company powers customer and merchant onboarding for global players like PayPal, Square, and Kickstarter, specializing in AML and KYC verification to mitigate fraud risks. The funds supported scaling operations, including sales team expansion, technical infrastructure, customer support, and data acquisition, as Trulioo aimed to extend GlobalGateway to the banking sector amid rising global regulatory enforcement. |
| Aug 2014 | Seed | UST (lead) | $1M | - | - |
| Mar 2014 | Series A | Tenfore Holdings (lead); Blumberg Capital; Framework Venture Partners; BDC Capital | $6M | - | - |
Who has invested in Trulioo?
15 investors have backed Trulioo across its funding rounds, including Blumberg Capital, BDC Capital, Amex Ventures, Goldman Sachs, Citi Ventures and Mouro Capital.
Lead investors include TCV, Goldman Sachs, BDC Capital, UST and Tenfore Holdings.
Trulioo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Mar 2014 | ||
| 3 | Participant | Dec 2015 | ||
| 3 | Lead | Mar 2014 | ||
| 2 | Lead | Mar 2014 | ||
| 2 | Lead | Sep 2019 | ||
| 2 | Participant | Sep 2019 | ||
| 2 | Participant | Sep 2019 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Lead | Jun 2021 | ||
| 1 | Participant | Mar 2014 | ||
| 1 | Lead | Aug 2014 | ||
| 1 | Participant | Sep 2019 | ||
This data is available for Pro users. Sign up to see all 15 Trulioo investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Trulioo
Trulioo has acquired 2 companies to date.
Last acquisition by Trulioo was on February 8th 2022. Trulioo acquired HelloFlow for $46M.
Latest Acquisitions by Trulioo
| Description | HelloFlow is a Berlin-headquartered no-code platform that enables regulated businesses to build digital onboarding flows for KYC and AML compliance. Users drag-and-drop identity verification services from providers like Onfido and Trulioo, supporting over 20,000 documents from 200 countries. Launched in 2020, it serves fintechs, banks, and crypto firms across Europe and the US, reducing setup time from weeks to minutes. The platform integrates with CRMs such as Salesforce and ensures PSD2 and GDPR adherence through automated workflows. | Global Data Company is a provider of electronic identity verification, Know Your Customer checks, age verification, anti-money laundering compliance, and financial risk management services. The firm offers market consultations for eIDV solutions to fintech, gaming, and e-commerce sectors worldwide. Based in the United Kingdom, Global Data Company processes billions of verifications annually using AI-driven databases covering global sanctions, PEP lists, and biometric matching. |
| HQ Country | ||
| HQ City | Copenhagen | Vancouver |
| Deal Date | 8 Feb 2022 | 5 Jun 2014 |
| Valuation | $46M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Trulioo acquisitions and their M&A valuation multiples. Start Free Trial | ||
Trulioo Competitors
Trulioo competitors include listed companies like Red Violet and Amplitude, and private ones like Devo, Horizon3.ai, Keyfactor and Exabeam.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2B | - | ||
| Private | $30M | - | $2B | - | ||
| Private | $100M | - | $1.3B | 13.0x | ||
| Private | $100M | - | $2.4B | 24.0x | ||
| Publicly listed | $90M | $24M | $1.2B | 11.7x | ||
| Publicly listed | $343M | ($76M) | $1.7B | 4.1x |
Trulioo Public Comps
Trulioo is still privately-owned, but its public comps include Amplitude, Progress Software, CETC Cyberspace Security, Planisware, A10 Networks, Innodata, CloudWalk, Business-intelligence, Secunet and DoubleVerify.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $343M | ($76M) | 4.6x | 4.1x | (21.1x) | 98.8x | |||
| $978M | $302M | 3.0x | 2.9x | 9.6x | 7.3x | |||
| $338M | $20M | 4.5x | - | 73.6x | - | |||
| $228M | $78M | 7.3x | 6.7x | 21.5x | 18.4x | |||
| $291M | $62M | 6.3x | 5.7x | 29.4x | 19.1x | |||
| $252M | $47M | 6.8x | 5.2x | 36.6x | 22.7x | |||
| $75M | ($75M) | 18.8x | 19.1x | (18.7x) | - | |||
| $389M | $54M | 6.6x | 5.9x | 47.7x | - | |||
This data is available for Pro users. Sign up to see all Trulioo competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Trulioo
| When was Trulioo founded? | Trulioo was founded in 2011. |
| Where is Trulioo headquartered? | Trulioo is headquartered in Vancouver, Canada. |
| Is Trulioo publicly listed? | No, Trulioo is a private, VC-backed company. |
| What is Trulioo's valuation? | Trulioo was last valued at $1.8B in its Series D in June 2021. |
| How much funding has Trulioo raised? | Trulioo has raised $472M across 6 funding rounds. |
| What was Trulioo's last funding round? | Trulioo's last funding round was a $394M Series D in June 2021, led by TCV. |
| Who are Trulioo's investors? | Trulioo's investors include Blumberg Capital, Amex Ventures, BDC Capital, Tenfore Holdings, Goldman Sachs, Citi Ventures, Mouro Capital, Plug and Play, Stereo Capital, TCV and 5 others. |
| Which companies are comparable to Trulioo? | Companies comparable to Trulioo include Devo, Horizon3.ai, Keyfactor, Exabeam, Red Violet and Amplitude. |
| How many companies has Trulioo acquired? | Trulioo has acquired 2 companies, including HelloFlow and Global Data Company. |
| What was the largest acquisition by Trulioo? | The $46M acquisition of HelloFlow in February 2022 is the largest acquisition Trulioo has made to date. |
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