tru.ID
Mobile identity verification using SIM card cryptography.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
N/A | Support Program | ||
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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IDlayr, formerly known as tru.ID, is a London-based company founded in 2020 by CEO Paul McGuire and Eric Nadalin, which provides mobile identity verification solutions. The company aims to establish a new standard for online identity in the mobile-first era by leveraging the cryptographic security of SIM cards. McGuire is a serial entrepreneur with extensive experience in mobile and financial services, having previously co-founded mobile payments business Boku and mobile messaging pioneer mBlox.
The company's core technology uses the mobile number as a secure digital identity credential, providing an alternative to traditional authentication methods like passwords and SMS one-time codes, which are vulnerable to fraud such as phishing and SIM swapping. IDlayr's platform verifies identity by checking for the possession of an active SIM card associated with a specific phone number, a process described as 'Triple Lock' verification: right number, right SIM, and right device. This approach offers a frictionless user experience, as the security check happens silently in the background without requiring user intervention.
IDlayr operates on a 'Mobile Identity as a Service' (MIDaaS) model, offering its solutions through a suite of APIs and a cloud-based platform. Its products include Silent Network Authentication, Mobile Number Detection, SIM Swap Prevention, and Mobile Device Binding. The company targets enterprises in sectors like financial services, e-commerce, healthcare, and the gig economy, helping them to reduce fraud, cut operational costs, and improve the user onboarding experience. IDlayr has established a Global Mobile Trust Network of mobile network operators to deliver its services. The company has raised a total of $13.2 million in funding over two seed rounds from investors including Sorenson Ventures, Episode 1, MMC Ventures, and NHN Ventures.
Keywords: mobile identity, authentication, cybersecurity, SIM-based verification, passwordless, fraud prevention, digital identity, multi-factor authentication, API security, user onboarding, possession factor, Mobile Identity as a Service, MIDaaS, fintech, identity proofing, Silent Network Authentication, SIM swap fraud