Trulioo raises $394m in TCV-led Series D funding round
Identity verification firm Trulioo has raised $394 million in funding at a $1.75 billion valuation in a Series D funding round led by TCV.
The round also saw participation from Citi Ventures, Blumberg Capital, Mouro Capital and American Express Ventures.
Trulioo has now raised $474 million in total
Part of the investment sees TCV general partner Jake Reynolds and principal Amol Helekar joining Trulioo’s board of directors.
The identity firm claims to have experienced a bumper 2020, with revenues doubling and new offices opened in Dublin, Austin and San Diego. It has now raised a total of $474 million.
It has also gone on something of a C-suite hiring spree, with CTO Hal Lonas and CFO Leigh Ramsden joining in March 2021 and November 2020 respectively.
“The shift to online has brought digital identity to the forefront,” says Steve Munford, Trulioo’s CEO.
“This new round of funding will accelerate our goal to become an end-to-end identity platform. Our vision is to break down fragmented data silos caused by disparate identity networks.
“We will work in partnership with TCV to expand our investments in product innovation, build out capabilities and advance our global go-to-market strategy.”
Companies on the TCV investment portfolio include Facebook, Airbnb, Klarna, Nubank, Revolut and Spotify.
“Many of the world’s fastest-growing fintechs, financial services companies, online marketplaces and ecommerce leaders already rely on Trulioo,” says TCV principal Helekar.
“They demonstrate the way forward for the huge number of businesses whose digital strategies increasingly depend on accurate, fast identity verification globally.”
Related: Signicat buys Encap Security to combine mobile identity and authentication businesses
