A man in a shirt stands in an office in front of a sign that says Trulioo.
CEO Steve Munford. Image: Trulioo

Trulioo to triple Irish headcount after $394m funding raise

8 Jun 2021724 Views

The Canadian start-up, which has now hit unicorn status, plans to grow its Dublin team to more than 70 people over the next two years.

ID verification start-up Trulioo plans to expand its Irish base after raising $394m in a Series D funding round.

The Canadian company, which provides electronic identity and address verification for individuals and businesses, announced plans to open a Dublin office in 2018.

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It has grown this European HQ from three to 24 people over the past six months, and now plans to triple the size of its workforce in the next two years. The start-up is aiming to reach a team of more than 70 people in Ireland as it looks to expand its European customer base.

Trulioo will be hiring across a number of areas, including sales, customer success, marketing, technology and people-focused roles. It is currently advertising for a number of tech and sales positions in Dublin.

The company said that it will be looking for a new base in Dublin as it grows its team, but also plans to have hybrid working arrangements in place for staff.

Trulioo’s platform provides real-time verification for digitally onboarding customers, with the aim of mitigating fraud risk and ensuring regulatory compliance. The company is headquartered in Vancouver, and has offices in Dublin, San Diego and Austin.

Its recent Series D funding round was led by growth equity firm TCV, with participation from existing investors Citi Ventures, Blumberg Capital, Mouro Capital and American Express Ventures.

The Canadian company said on Monday (7 June) that the funding round values the business at $1.75bn.

“This new round of funding will accelerate our goal to become an end-to-end identity platform,” said Steve Munford, Trulioo president and CEO.

“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 AI/ML capabilities and advance our global go-to-market strategy.”

Amol Helekar of TCV, who is now joining Trulioo’s board, said that “many of the world’s fastest-growing fintechs, financial services companies, online marketplaces and e-commerce leaders” rely on the company’s platform.

“They demonstrate the way forward for the huge number of businesses whose digital strategies increasingly depend on accurate, fast identity verification globally.”

Sarah Harford
By Sarah Harford

Sarah Harford joined Silicon Republic as sub-editor in July 2019, coming from a background in business and tech journalism. When she’s not stressing out about spelling and grammar, she’s usually listening to Abba and arguing about the best way to make tea.

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