Trulioo, a Vancouver-based startup that offers a comprehensive ID verification solution, has landed a “strategic investment” from UST Global.
Trulioo did not reveal the size of the investment. The company has previously raised $10 million in venture capital from Blumberg Capital, New York-based Tenfore Holdings, and BDC VC, Canada’s largest investor.
UST Global, meanwhile, is a leading provider of end-to-end IT Services and Solutions for Global 1000 companies. Headquartered in Aliso Viejo, California, the firm has operations in USA, India, Mexico, Spain, UK, Malaysia, Philippines, and Singapore.
Launched in 2011, Trulioo provides advanced analytics based on global Internet identity information and user behavior from sources including social login providers, ad networks, mobile applications, e-commerce websites, social networks and its customers. Trulioo specializes in scoring cyber identities as authentic, machine generated or fraudulent.
“As corporations continue to invest in identity management and compliance systems, we see value in Trulioo’s unique offering,” said UST managing director Saurabh Ranjan. “We invest in agile companies with high customer demand and a need to scale quickly”.
Trulioo offers the most comprehensive ID verification solution in the world covering more than 3 billion people in 35 countries through a single integration. It has verified over 100 million online identities and now services more than 300 customers worldwide and
“Helping our customers comply with regulatory requirements for anti-money laundering, Know Your Customer, and watchlist checking at a global scale is our mission,” said Trulioo CEO Stephen Ufford. “Fueled by mobile technology, cross-border commerce continues to grow at a record pace. The Internet economy needs large scale tools to help build trust and UST will help provide scalability, enabling us to drive innovation to our customers.”
As part of the UST deal, Saurabh Ranjan will join Trulioo’s Board of Advisors.