Trustpilot Group

Trustpilot was founded by the company’s current CEO, Peter Holten Mühlmann, in Denmark in 2007. He started the company when his parents started shopping online. At the time, he was studying at Aarhus University, School of Business and Social Sciences and would later leave university to pursue Trustpilot.After raising $3 million in early venture funding from 2008 to 2010, Trustpilot received an initial capital injection from SEED Capital Denmark and Northzone in November 2011. One year later, Index Ventures, SEED Capital Denmark and Northzone invested $13 million in Series B funding in Trustpilot, which the company used for international growth.In 2013, Trustpilot opened offices in New York and London. In the same year, the company was named Danish Startup of the Year at Next Web’s European Startup Awards. In 2014, Draper Esprit invested $25 million in Trustpilot, along with support from the existing investors. According to VentureBeat, the Series C funding round would help Trustpilot “bring its online retail reviews service to the U.S.” At the end of 2014, Trustpilot employed 325 people and 400,000 new reviews were posted each month. According to Website Magazine, “Trustpilot soared in 2014,” and experienced “record growth with an 80 percent year-over-year increase in revenue.In May 2015, Trustpilot received $73.5 million in Series D funding. The investment was led by Vitruvian Partners, with contributions from all existing investors. In March, 2015, Google announced it was launching product ratings in Germany, the UK and France. In order to do this, “Google is aggregating data in Europe from different sources” including third party aggregators like Trustpilot.In February 2021, a private individual, Philip Waymouth, was ordered to pay £25,000 in libel damages after posting a negative review on TrustPilot's website. He had said in the post that Summerfield Browne of London was "another scam solicitor". The court found that Waymouth had not filed a complaint with the firm before posting. He said that he suggested that if Summerfield Browne refunded their fee, he would delete the post, but he said they did not respond.In March 2021, Trustpilot listed on the London Stock Exchange. The founders stated that London’s stock market looked more attractive after a government-backed review called for an overhaul of the U.K. listings regime.