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Vancouver-born Trulioo has completed a $394 million Series D round at a massive $1.75 billion valuation, joining the city’s growing stable of unicorns.
Trulioo is a global identity network enabling companies to reliably onboard customers in a digital-first world. For Trulioo’s customers, this speeds international expansion, mitigates fraud risk, and ensures regulatory compliance.
Over past year alone, the award winning technology pioneer doubled revenues, expanded into new verticals, grew its leadership team and opened offices in Dublin, Austin, and San Diego.
Trulioo is currently hiring in Vancouver.
According to Steve Munford, Trulioo’s President and CEO, the new round of funding will accelerate Trulioo’s goal to become an end-to-end identity platform, The U.S. digital identity market alone is projected to increase to over $30 billion by 2023.
The Series D round was led by TCV, one of the largest growth equity firms, with participation from existing investors Amex Ventures, Citi Ventures, Blumberg Capital, and Mouro Capital.
TCV backs companies at the forefront of digital transformation across industries and its investment portfolio includes technology franchises such as Airbnb, Brex, ByteDance, Facebook, Netflix, Wealthsimple, and fellow Vancouver unicorn Clio.
Trulioo was founded by Stephen Ufford and Tanis Jorge in 2011. The entrepreneurial pair started and sold three data-driven businesses before creating Trulioo.