Activant Capital leads with participation from returning investors Sequoia, Khosla, and founders/CEOs of LinkedIn, Docusign, Plaid, and Checkr
Truework, the consent-based identity platform that gives consumers control over their personal and professional information, announced the completion of its $30 million Series B funding round . Greenwich-based, growth equity firm Activant Capital led the round with participation from returning investors Sequoia Capital and Khosla Ventures. The round also included technology leaders Jeff Weiner (LinkedIn); Tom Gonser (Docusign); William Hockey (Plaid); and Daniel Yanisse (Checkr). Steve Sarracino, partner at Activant Capital, will join Alfred Lin and Keith Rabois on Truework’s board of directors.
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This latest round of fundraising comes as Truework continues to expand its product offerings, helping address the changing demands companies face as the impact from COVID-19 ripples across the economy. In March, Truework launched the first ever API to verify source-of-truth income and employment data, allowing high-volume user groups such as lenders and medical staffing agencies to integrate Truework’s verification service directly into their applications and workflows. Last week, Truework went live with a product for HR teams to track COVID-19 related data amongst their workforce while maintaining employee consent.
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Truework’s core product, a verified identity platform, protects sensitive personal data behind consumer consent. The automated service removes the need for HR departments to respond directly to requests from lenders, landlords, background check companies and others. Whenever a third party requests sensitive data, like income, the respective employee receives an email or text with specific details about the inquiry and is given the option to approve or deny the request. With an emphasis on privacy and security, Truework maintains best-in-class security certifications, including ISO27001, SOC2 Type 1 & 2.
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