San Francisco-based startup Truework, a consent-based identity platform that gives consumers control over their personal and professional information, raised funds on 15 December 2020.
The funding round was led by the strategic investment group of American Express. Other participants include Amex Ventures, Activant Capital, Sequoia Capital and Khosla Ventures.
This latest funding comes as Truework continues to expand its network of lenders, employers and other customers as demand for its employment and income verification platform grows.
About Truework
Founded in 2017 by Ethan Winchell, Ryan Sandler and Victor Kabdebon, Truework is a platform for employment and income verification that puts consumers in control of their personal data. Truework digitizes the verification process for HR departments, banks and others to make it fast and secure for employees to get verified when applying for a loan, jobs or apartment rental. Truework has a network of over 40,000 lenders and background check companies. It completes thousands of employment and income verifications every day. Its employer network includes nearly 100 enterprise companies and more than 20,000 small businesses across all industries, from healthcare to technology, including The College Board, The Real Real, Oscar Health, The Motley Fool and Tuft & Needle.
“In light of the COVID-19 pandemic, the digital transformation we’ve been seeing in lending and other consumer transactions has led to our platform growing over 5x this year. Our API enables online lenders to verify source-of-truth income and employment data faster and easier than ever before, which has been critical for approving applications quickly as mortgage rates are at industry lows and the demand for new homes and refinancing surges,” said Ryan Sandler, CEO and co-founder of Truework. As Truework is expanding its reach to new verticals, more Americans can take advantage of the platform during important life events like getting a new job or buying a home.
What Investors have to say
“The traditional methods many organizations use to verify an individual’s employment information can be time-consuming and expensive,” said Dana Eli-Lorch, managing director at Amex Ventures. “Truework’s platform simplifies the process and gives greater control to the individuals. We are excited to invest in Truework to support their future growth.”
Amex Ventures invests in startups that are developing technology and capabilities in the areas most relevant to American Express such as consumer commerce, B2B services and core capabilities, including risk management, cybersecurity and fraud detection, identity, AI & automation, servicing and customer experience.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Story
