Global identity verification platform Trulioo has entered the unicorn club after its $394m Series D round puts its valuation at $1.75bn.
TCV led the round, with commitments also coming from Amex Ventures, Citi Ventures, Blumberg Capital and Mouro Capital.
The RegTech company offers real-time veification of five billion consumers and 330 million business entities across the globe, all through a single API integration. The solution is used to help companies meet compliance requirements and automate their due diligence and fraud prevention workflows.
Over the past year, the company has expanded into new verticals, increased the size of its leadership team and established a presence in Dublin, Austin and San Diego.
Trulioo president and CEO Steve Munford said, “The shift to online has brought digital identity to the forefront.
“This new round of funding will enable us to 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, and we will work in partnership with TCV to expand our investments in product innovation, build out artificial intelligence/machine learning capabilities and accelerate our global go-to-market strategy.”
As part of the deal, TCV general partner Jake Reynolds and principal Amol Helekar have joined the Trulioo board of directors.
The RegTech company previously raised $52.8m in its Series C funding round back in 2019. The round was supported by Goldman Sachs Growth Equity and participation from Citi Ventures, Santander InnoVentures and American Express Ventures.
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