Funding round
Trulioo Series A
Trulioo, which works in identity verification services in Vancouver, raised $6.0M in a Series A round announced on 11 Mar 2014, led by Tenfore Holdings. 3 firms took part. It is Trulioo's first venture round on record.
$6.0M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Trulioo did not disclose a valuation in this round. It is Trulioo's first venture round on record, 3 years after it was founded in 2011. It is 1.3% of the $470M Trulioo has raised in the venture rounds on record. Trulioo raised again 66 months later: a Series C round of $70M in Sep 2019. Its next priced round, a Series D in Jun 2021, valued it at $1.75B.
Investors
Who put money in
Tenfore Holdings led the round with 2 other firms.
Lead investor
- Tenfore Holdings new investor
Also in the round
- BDC Venture Capital new investor
- backs 64 venture-backed companies new investor
Joined the board: Dan Levine (Tenfore Holdings).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
263 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $5.2M, and this round was 1.2 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 3 Mar 2014 | $8.0M | not disclosed | Balderton Capital |
| Tech Companies | 5 Mar 2014 | $7.1M | not disclosed | Pitango |
| Tech Companies | 5 Mar 2014 | $7.0M | not disclosed | not named |
| Tech Companies | 19 Mar 2014 | $5.1M | not disclosed | Shasta Ventures |
| Tech Companies | 21 Mar 2014 | $2.9M | not disclosed | Seventure Partners |
| Gusto Tech Companies | 19 Feb 2014 | $20M | not disclosed | General Catalyst and Kleiner Perkins |
| Tech Companies | 30 Apr 2014 | $8.0M | not disclosed | Shasta Ventures |
| Tech Companies | 24 Apr 2014 | $7.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Trulioo raise in its Series A round?
Trulioo raised $6.0M in its Series A round, announced in Mar 2014.
Who led Trulioo's Series A round?
Tenfore Holdings led it, with BDC Venture Capital and Blumberg Capital.
What was Trulioo's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
263 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $5.2M, and this round was 1.2 times the median.
Did Trulioo raise again after this round?
Yes: a Series C round in Sep 2019 of $70M.