Trulioo appoints COO following $70m raise

Trulioo has just named longtime general manager Zac Cohen as the tech company's chief operating officer | submitted

What happened: Longtime GM has been tapped as tech company’s new chief operating officer

Why it matters: Trulioo has designs on expansion following a multimillion-dollar capital investment raise earlier this year

A Vancouver-based tech company specializing in online identity verification has made some fine-tuning to its C-suite.

Trulioo Information Services Inc. announced Tuesday (November 19) it’s promoting Zac Cohen to the role of chief operating officer.

Cohen had been serving as Trulioo’s general manager since 2015.

“Under his leadership, revenue has grown 150% year-over-year and our headcount has tripled to 140 staff across our Vancouver, San Francisco and Dublin offices,” Trulioo CEO Stephen Ufford said in a statement.

The move comes after the company announced in mid-September the conclusion of a Series C funding round that raised $60 million.

It also revealed at that time an additional $10 million in previously unannounced investments, bringing Trulioo’s total capital investments up to $96.6 million since its founding in 2011.

The Series C funding round was led by Goldman Sachs Growth Equity, with participation from Citi Ventures, Santander InnoVentures and American Express Ventures.

Trulioo has access to multiple data sources, such as credit bureaus or utility companies, to help verify identities for other organizations' customers.

Kickstarter PBC and PayPal Holdings Inc. (Nasdaq: PYPL) are among those that have used Trulioo’s services.

Ufford told Business in Vancouver in September his company had recently doubled its footprint in Vancouver, locking down a floor on a second site in the city.

The company currently plans on hiring another 50-60 workers.