Business Wire

CA-TRU.ID

Share
tru.ID Adds Sorenson Ventures to $9m Seed Round to Scale the Mobile Cybersecurity Platform

tru.ID (https://tru.id ), the pioneering passwordless authentication platform leveraging SIM card cryptography, is today announcing that Sorenson Ventures joined its seed funding round, alongside Episode 1, MMC Ventures and NHN Ventures, bringing the company’s total seed stage funding to USD 9m. Sorenson provides strong US-based connections which will be valuable as the company prepares to roll out its services into the USA market.

tru.ID exists to help companies solve the $1trillion threat of cybercrime attacks on customers and employees. In today’s post-COVID hybrid world, legacy authentication methods, using passwords and PIN codes sent by email or SMS, are no longer fit for purpose – they are vulnerable to criminal attacks such as phishing and provide a poor user experience. Businesses have been trying to replace passwords for years, but have failed to find a secure and scalable solution. Now, the answer is here, combining the ubiquity of the mobile phone with the cryptographic security of the SIM card.

Paul McGuire, co-founder and CEO of tru.ID, says: “Cybercrime threatens all online businesses. The annual cost is estimated to be over $1trillion and increasing. One of the biggest vulnerabilities is the password. But finding a more secure alternative that is easy to use and widely available has proved impossible – until now. tru.ID brings a new solution that the world urgently needs: strong online security that is easy to use and already in everyone’s pocket.”

The SIM card is the same highly secure technology that is in every credit card, and there are already 5bn+ SIM cards deployed. That means every customer and every employee already has a cryptographically secure digital identity token in their pocket. tru.ID makes this revolutionary new security solution available through an API-based SaaS platform.

tru.ID is already live in 20 markets and continues to build out its network.

Rob Rueckert, Partner at Sorenson Ventures, comments: “Today, doing business online or working remotely means a constant threat of cyberattacks. Finding a solution that is effective and usable for customers and employees is an urgent and unsolved problem for businesses of every size. tru.ID brings a new and potentially transformative approach, leveraging the security & ubiquity of the SIM card through a modern, API platform. We are delighted to be backing this experienced team and to already see the significant traction they have achieved since we made our investment.”

About tru.ID
tru.ID helps businesses to reduce the threat of cybercrime by replacing passwords and PIN codes with a secure possession factor API for multifactor authentication (MFA). This revolutionary approach leverages the core cryptographic security built-in to every mobile network and is now being made available, for the first time, to businesses via API.

tru.ID uses mobile network cryptography based on the SIM card – the same highly secure technology that is already present in every credit card - to deliver strong MFA protection for Customers and Employees.

tru.ID is easy to deploy and simple to use. The service is already available in 20 markets covering over 2bn users, and is rolling out globally.

Visit our website to learn more or sign up and start testing for free at https://tru.id .

About Sorenson Ventures
Sorenson Ventures is a Silicon Valley and Utah-based, early-stage investing firm in security and enterprise software companies with more than $250 million of capital under management. Sorenson Ventures invests in product-oriented founders and helps portfolio companies establish a strong foundation to accelerate revenue growth with Global 2000 customers.

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

The Coca-Cola Company Names New Leader for Europe Operating Unit18.7.2025 21:00:00 CEST | Press release

The Coca-Cola Company today announced that Luisa Ortega will become president of the Europe operating unit effective Sept. 1, succeeding Nikos Koumettis, who will retire in 2026 after a 25-year career with the company. Koumettis will remain with the company through Feb. 28, 2026, as a senior advisor. He will also serve on the board of directors of Hindustan Coca-Cola Beverages Pvt. Ltd., a company-owned bottler in India. Ortega joined Coca-Cola in 2019 and currently serves as president of the Africa operating unit. In this role, she leads a complex business that operates across 54 markets. Koumettis has led the Europe operating unit since it was created in 2021. “Luisa has done an outstanding job leading our African business, where our system has continued to make major investments to serve growing markets on the continent,” said Henrique Braun, Executive Vice President and Chief Operating Officer of The Coca-Cola Company. “As head of Europe, she will bring great international experien

NFL Running Back Derrick Henry Joins Amazfit as Athlete Ambassador18.7.2025 15:00:00 CEST | Press release

Henry to utilize Amazfit products to optimize health, recovery and performance as he enters his 10th NFL season Amazfit, a leading global smart wearables brand owned by Zepp Health (NYSE: ZEPP), announced Baltimore Ravens running back Derrick Henry as the newest elite athlete to join its growing roster of ambassadors. Known for his rare combination of speed and strength, Henry will utilize Amazfit wearables to power every phase of his training, recovery and sleep as he prepares for his 10th NFL season. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250718322498/en/ Derrick Henry is the newest elite athlete to join Amazfit's growing roster of ambassadors. As one of the most prolific running backs of his generation, Henry has amassed an impressive array of accolades during his career, including NFL Offensive Player of the Year, two rushing titles, and five Pro Bowl selections. With Amazfit as his official smart wearable partne

Qualcomm Announces Quarterly Cash Dividend18.7.2025 15:00:00 CEST | Press release

Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.89 per common share, payable on September 25, 2025, to stockholders of record at the close of business on September 4, 2025. About Qualcomm Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Building on our 40 years of technology leadership in creating era-defining breakthroughs, we deliver a broad portfolio of solutions built with our leading-edge AI, high-performance, low-power computing, and unrivaled connectivity. Our Snapdragon® platforms power extraordinary consumer experiences, and our Qualcomm Dragonwing™ products empower businesses and industries to scale to new heights. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. Qualcomm Incorporated includes our licensin

MultiBank Group Confirms $MBG Token Listings on MEXC and Gate.io on TGE Day in Addition to MultiBank.io and Uniswap18.7.2025 14:34:00 CEST | Press release

MultiBank Group, the world’s largest & most regulated financial derivatives institution, is proud to announce that its highly anticipated $MBG Token will be listed on two new major global cryptocurrency exchanges — MEXC and Gate.io — on the day of its official Token Generation Event (TGE), July 22, 2025, in addition to MultiBank.io and Uniswap. The $MBG Token will go live on: MultiBank.ioGate.ioMEXCUniswap This new dual listing will allow millions of users across both exchanges to seamlessly access and trade $MBG using their existing accounts, ensuring immediate market participation at launch. The Token Generation Event (TGE) is now approaching following the successful completion of two pre-sale rounds, where MultiBank Group issued 7 million tokens in Round 1 and 3 million tokens in Round 2 — both of which sold out within minutes. Naser Taher, Chairman and Founder of MultiBank Group said “With $MBG, we’re introducing a utility token built to deliver real-world value, transparency, and

SLB Announces Second-Quarter 2025 Results18.7.2025 12:50:00 CEST | Press release

Revenue of $8.55 billion increased 1% sequentially and decreased 6% year on year GAAP EPS of $0.74 increased 28% sequentially and decreased 4% year on year EPS, excluding charges and credits, of $0.74 increased 3% sequentially and decreased 13% year on year Net income attributable to SLB of $1.01 billion increased 27% sequentially and decreased 9% year on year Adjusted EBITDA of $2.05 billion increased 2% sequentially and decreased 10% year on year Cash flow from operations was $1.14 billion and free cash flow was $622 million Board approved quarterly cash dividend of $0.285 per share SLB (NYSE: SLB) today announced results for the second-quarter 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716727689/en/ The exterior of the SLB headquarters in Houston, Texas. Second-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChangeJun. 30, 2025Mar. 31, 2025Jun. 30, 2024SequentialYear-on-yearReve

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye