About TrustID
TrustID is a company based in Reading (United Kingdom) founded in 2007.. TrustID has raised $14 million across 3 funding rounds from investors including Norwest Venture Partners, Rogers Venture Partners and Trinity Ventures. The company has 18 employees as of December 31, 2022. TrustID offers products and services including Online ID Checks, Right To Work Checks, and Digital DBS Checks. TrustID operates in a competitive market with competitors including Perfios, Signicat, IDnow, Riskified and Onfido, among others.
- Headquarter Reading, United Kingdom
- Employees 18 as on 31 Dec, 2022
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Sectors
TechnologyIndustrial Goods & Manufacturing Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Trustid, Inc.
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Annual Revenue
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Net Profit
$-1.24 M (USD)-220as on Dec 31, 2022
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EBITDA
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Total Equity Funding
$14 M (USD)
in 3 rounds
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Latest Funding Round
$7 M (USD), Series A
Feb 13, 2013
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Investors
Norwest Venture Partners
& 2 more
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Employee Count
18
as on Dec 31, 2022
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Products & Services of TrustID
TrustID offers a comprehensive portfolio of products and services, including Online ID Checks, Right To Work Checks, and Digital DBS Checks. 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.
Service for validating identity documents remotely
Checks for employer compliance with work regulations
Automated checks for employee suitability and security
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Funding Insights of TrustID
TrustID has successfully raised a total of $14M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $7 million completed in February 2013. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $7.0M
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First Round
First Round
(13 Jan 2010)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2013 | Amount | Series A - TrustID | Valuation |
investors |
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| Dec, 2011 | Amount | Series A - TrustID | Valuation |
investors |
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| Jan, 2010 | Amount | Series A - TrustID | Valuation |
investors |
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| 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 TrustID
TrustID has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Norwest Venture Partners, Rogers Venture Partners and Trinity Ventures. 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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Corporate-backed investments are directed to fintech, healthcare, and various sectors.
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Founded Year | Domain | Location | |
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Venture capital firm investing in early-stage technology and real estate companies.
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Founded Year | Domain | Location | |
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Venture capital and growth equity firm providing investments and resources to entrepreneurs in various sectors.
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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 TrustID
| 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 |
Financial Statements - TrustID
| 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 |
Trustid Comparisons
Competitors of TrustID
TrustID 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 Perfios, Signicat, IDnow, Riskified and Onfido, 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 |
Provides financial technology solutions for data analysis and verification globally.
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| domain | founded_year | HQ Location |
Software solutions for identity management are provided via APIs.
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| domain | founded_year | HQ Location |
Automated and expert-led identity verification services are provided.
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| domain | founded_year | HQ Location |
AI-based fraud prevention for e-commerce payments is provided.
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| domain | founded_year | HQ Location |
Identity verification solutions are provided, including document and biometric authentication.
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| domain | founded_year | HQ Location |
Identity verification, background screening, and fraud prevention solutions are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Trustid
Frequently Asked Questions about TrustID
When was TrustID founded?
TrustID was founded in 2007 and raised its 1st funding round 3 years after it was founded.
Where is TrustID located?
TrustID is headquartered in Reading, United Kingdom.
Who is the current CEO of TrustID?
Tony Machin is the current CEO of TrustID.
Is TrustID a funded company?
TrustID is a funded company, having raised a total of $14M across 3 funding rounds to date. The company's 1st funding round was a Series A of $4M, raised on Jan 13, 2010.
How many employees does TrustID have?
As of Dec 31, 2022, the latest employee count at TrustID is 18.
What does TrustID do?
TrustID was founded in 2007 and is headquartered in Reading, United Kingdom. Operations center on technology services, including API development and identity verification. Solutions for secure document checks and compliance are delivered via the trustid.co.uk domain. The company addresses needs in fintech and regulatory sectors. Leadership is held by CEO Tony Machin, with focus on practical verification tools for businesses.
Who are the top competitors of TrustID?
What products or services does TrustID offer?
TrustID offers Online ID Checks, Right To Work Checks, and Digital DBS Checks.
Who are TrustID's investors?
TrustID has 3 investors. Key investors include Norwest Venture Partners, Rogers Venture Partners, and Trinity Ventures.
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