Truework collects $30m in its Series B as it looks to help companies post-coronavirus

May 21, 2020

Truework, a consent-based identity platform, has collected $30m in its Series B round which was led by Activant Capital.

Contributions to the round also came from Sequoia Capital and Khosla Ventures. The investment also witnessed support from a number of angel investors including LinkedIn CEO Jeff Weiner, Docusign founder Tom Gonser, Plaid co-founder William Hockey and Checkr co-founder and CEO Daniel Yanisse.

In conjunction with the Series B investment, Activant Capital partner Steve Sarracino has joined the Truework board of directors.

Capital from the round will be used to deepen Truework’s product offerings to help meet the needs of companies facing the impact of the coronavirus pandemic.

Truework offers a verified identity platform, which protects sensitive personal data and keeps to privacy regulations. Its tools helps HR teams automatically respond to information requests from lenders, landlords, background check companies and others.

Earlier in the year, the FinTech released an API that can verify source-of-truth income and employment data, allowing high-volume user groups such as lenders to directly integrate the software with their existing infrastructure.

Last week, the company launched a tool for HR teams to tack coronavirus related data amongst their workforce whilst maintaining employee consent.

Truework CEO Ryan Sandler said, “We’ve always known income and employment verification was just the first step in our mission of creating a holistic identity API that puts each individual in control of how their sensitive data is shared online. In the months and years to come, we plan to expand our consent-driven model into every aspect of identity verification, from education to credit history, and beyond

“We’re committed to leading an industry-wide transformation that puts consumers first. Eventually, we hope that selectively sharing your private Truework profile will be all you need to apply for a new job, apartment, or loan—and to keep your information safe, you won’t need to do anything at all.”