Funding round
Trulioo Series D
Trulioo, which works in identity verification services in Vancouver, raised $394M in a Series D round announced on 7 Jun 2021, led by Technology Crossover Ventures, at a $1.75B post-money valuation. 5 firms took part, 5 of them already investors. It is Trulioo's third venture round on record; the one before was a Series C in Sep 2019.
$394M
Amount raised
$1.75B
Post-money valuation
$1.36B pre-money
5
Investors
1 lead
23%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Trulioo at $1.75B after the new money. The $394M bought investors about 23% of the company. It came 21 months after Trulioo's Series C. It is 84% of the $470M Trulioo has raised in the venture rounds on record. No later venture round is on record for Trulioo.
Investors
Who put money in
Technology Crossover Ventures led the round with 4 other firms. Technology Crossover Ventures, Citi Ventures, Blumberg Capital and Mouro Capital and 1 more had backed Trulioo before.
Lead investor
- Technology Crossover Ventures backs 86 venture-backed companies existing investor
Also in the round
- Citi Ventures existing investor
- backs 64 venture-backed companies existing investor
- backs 39 venture-backed companies existing investor
- American Express Ventures existing investor
Joined the board: Jake Reynolds (TCV) and Amol Helekar (TCV).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
238 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.9 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| ApplyBoard Tech Companies | 15 Jun 2021 | $300M | $3.20B | Ontario Teachers’ Pension Plan |
| Tech Companies | 1 Jun 2021 | $190M | not disclosed | Denso and Cowen Capital |
| Tech Companies | 22 Jun 2021 | $157M | $1.10B | Permira and Salesforce Ventures |
| Verbit Tech Companies | 8 Jun 2021 | $157M | $1.00B | Sapphire Ventures |
| Claroty Tech Companies | 17 Jun 2021 | $140M | not disclosed | Bessemer Venture Partners and 40 North |
| Tech Companies | 23 Jun 2021 | $120M | $1.00B | Goldman Sachs Asset Management |
| Tech Companies | 23 Jun 2021 | $120M | not disclosed | Prysm Capital |
| Tech Companies | 3 Jun 2021 | $110M | $1.20B | Riverwood Capital |
Sources
Where this comes from
Reported by 10 sources.
Questions
Frequently asked
How much did Trulioo raise in its Series D round?
Trulioo raised $394M in its Series D round, announced in Jun 2021.
Who led Trulioo's Series D round?
Technology Crossover Ventures led it, with Citi Ventures, Blumberg Capital, Mouro Capital and American Express Ventures.
What was Trulioo's valuation at the Series D round?
$1.75B post-money ($1.36B pre-money).
How does it compare with other Series D rounds in Tech Companies?
238 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.9 times the median.