June 5, 2014, Vancouver, B.C., - Canadian online identity verification start-up Trulioo, has acquired Global Data Company (GDC), a leader in electronic, cross-border identity verification based in Melbourne, Australia for an undisclosed sum. The strategic acquisition has positioned the company to enter the Anti-Money Laundering (AML)/ Know Your Customer (KYC) compliance space.
“Identity is the foundation for trust online,” claims Stephen Ufford, Founder and CEO of Trulioo. “We are fortunate to have the highly experienced team from GDC join us in our pursuit to fix the Internet’s oldest and most pervasive problem,” says Ufford.
As the pioneer in cyber identity verification, Trulioo aims to continue disrupting the space with new technologies such as TruDetect, which has been used to verify over 100 million cyber identities and is available in 186 countries around the globe. The company plans to continue GDC’s leading AML/KYC identity verification business in Australia as well as offering access to over 130 independent data sources in over 30 countries through a single integration. Businesses will now have the ability to verify new and existing customers in order to facilitate financial transactions, meet regulatory compliance requirements and mitigate risk.
"We are excited to join forces with Trulioo,” says Ed Sedgley, Founder and CEO at GDC. “Trulioo is an emerging force in the market, with the combination of the two companies being a big win for our customers both today and in the future.”
The acquisition is a first for Trulioo, with GDC being a formerly held subsidiary of WHP Investments Inc.
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. The company has raised over $10m in venture funding and is headquartered in Vancouver, B.C., Canada.
About Global Data Company
Global Data Company (GDC) is a leading provider of identity verification services in Australia. The company focuses on supporting its customers with anti-money laundering compliant identity verification services, age verification, watch list checking and business verification services. GDC was founded in 2001 and is headquartered in Melbourne, Australia with offices in Bozeman, Montana and London, UK.