About TruConnect
TruConnect is a company based in Los Angeles (United States) founded in 2011.. The company has 154 employees as of April 05, 2024. TruConnect has completed 2 acquisitions, including FreedomPop and Wefi. TruConnect offers products and services including Free Phone Plan, Prepaid Plans, and Devices and SIM Kits. TruConnect operates in a competitive market with competitors including MTN, Jio, Airtel, SK Telecom and Optus, among others.
- Headquarter Los Angeles, United States
- Employees 154 as on 05 Apr, 2024
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Sectors
Telecommunications
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Upverse Solutions Private Limited
- Date of Incorporation 16 Oct, 2015
- Jurisdiction Pune, Maharashtra, India
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Annual Revenue
$1.32 M (USD)13.61as on Mar 31, 2022
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Net Profit
$65.26 K (USD)-34.27as on Mar 31, 2022
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EBITDA
$134.64 K (USD)-27.84as on Mar 31, 2022
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Latest Funding Round
$20 M (USD), Debt – Conventional
Jun 14, 2016
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Investors
Opus Bank
& 1 more
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Employee Count
154
as on Apr 05, 2024
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Investments & Acquisitions
FreedomPop
& 1 more
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Products & Services of TruConnect
TruConnect offers a comprehensive portfolio of products and services, including Free Phone Plan, Prepaid Plans, and Devices and SIM Kits. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Delivers unlimited talk, text, and data for eligible users
Offers additional paid plans with no contracts or hidden fees
Provides free devices or SIM cards for service activation
Unlock access to complete
Funding Insights of TruConnect
- Total Funding Total Funding
- Total Rounds 2
- Last Round Debt – Conventional — $20.0M
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First Round
First Round
(01 Jun 2012)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2016 | Amount | Debt – Conventional - TruConnect | Valuation |
investors |
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| Jun, 2012 | Amount | Debt – Conventional - TruConnect | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TruConnect
TruConnect has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include Opus Bank and Banyan Investment Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investment in small to middle-market companies via equity and subordinated debt.
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Founded Year | Domain | Location | |
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Commercial bank
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TruConnect
TruConnect has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include FreedomPop and Wefi. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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MVNO providing mobile and internet services
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2011 | ||||
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Wifi Network Discovery Tool - Mobile Data Analytics
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2006 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - TruConnect
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Truconnect Comparisons
Competitors of TruConnect
TruConnect operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MTN, Jio, Airtel, SK Telecom and Optus, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
MTN Group is recognized as a leading telecommunications provider in Africa.
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| domain | founded_year | HQ Location |
Provider of telecommunication services
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| domain | founded_year | HQ Location |
Airtel is recognized as a provider of telecommunications and internet services.
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| domain | founded_year | HQ Location |
Provider of integrated telecommunication services
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| domain | founded_year | HQ Location |
Mobile internet services are provided for homes and offices.
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| domain | founded_year | HQ Location |
Integrated telecom service provider
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Truconnect
Frequently Asked Questions about TruConnect
When was TruConnect founded?
TruConnect was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Where is TruConnect located?
TruConnect is headquartered in Los Angeles, United States. It is registered at Los Angeles, California, United States.
How many employees does TruConnect have?
As of Apr 05, 2024, the latest employee count at TruConnect is 154.
What is the annual revenue of TruConnect?
Annual revenue of TruConnect is $1.32M as on Mar 31, 2022.
What does TruConnect do?
TruConnect was founded in 2011 in Los Angeles, United States, and operates as a mobile virtual network operator on the Sprint Network. Affordable mobile plans, including unlimited data and voice options, are offered alongside pay-as-you-go hotspots. Participation in the Lifeline program supports eligible low-income customers. In 2016, TruConnect Technologies was established, leading to the acquisition of WeFi for Wi-Fi offloading and analytics solutions.
Who are the top competitors of TruConnect?
What products or services does TruConnect offer?
TruConnect offers Free Phone Plan, Prepaid Plans, and Devices and SIM Kits.
How many acquisitions has TruConnect made?
TruConnect has made 2 acquisitions, including FreedomPop, and Wefi.
Who are TruConnect's investors?
TruConnect has 2 investors. Key investors include Opus Bank, and Banyan Investment Partners.
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