附近上门

Consumers are not always aware of all the information they share externally, and when they don鈥檛 have that knowledge, it can be abused, CEO told 附近上门 News.

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To return some of that control over personal and professional information, the San Francisco-based company is ready to expand its consent-based identity verification platform and has attracted some big-name investors interested in helping.

led a $30 million Series B funding round, announced Wednesday, with participation from existing investors and . The round also included technology leaders (LinkedIn); (Docusign); (Plaid); and (Checkr).

Truework has raised a total of $44.9 million since its inception in 2017, Sandler said. Previous investments included a , led by Sequoia in July 2019, and a Khosla-led in April 2018, according to 附近上门 data.

As part of the investment, Activant Capital鈥檚 Founder and Partner will join Truework鈥檚 board of directors.

鈥淭ruework鈥檚 platform sits at the center of consumers鈥� most important transactions and life events, from purchasing a home, to securing a new job,鈥� Sarracino said in a written statement. 鈥淯p until now, the identity verification process has been painful, expensive and opaque for all parties involved, something we鈥檝e seen first-hand in the mortgage space. Starting with income and employment, Truework is setting the standard for consent-based verifications and unlocking the next wave of the digital economy.鈥�

Giving back consent

Sandler founded Truework with and as a verified identity platform to protect sensitive personal data behind consumer consent. Company human resources departments use the platform so they don鈥檛 have to respond directly to inquiries from entities requesting income and employment information for purposes of securing a loan or apartment, for example, Sandler said.

Traditionally, 70 percent of this information-gathering takes place via phone and even fax machine, with employers providing that information without letting their employees know, he added.

鈥淚t was eye-opening to see sensitive data, such as income and employment information not locked behind consumer consent,鈥� Sandler told 附近上门 News. 鈥淢any times, the people calling or faxing didn鈥檛 know the right person at the company who could answer those questions.鈥�

Truework gives back that consent by emailing or texting an employee when someone asks for their personal or professional information, enabling the person to see what is being requested and to confirm the information is accurate.

鈥淭he system was broken on both sides, so we wanted to fix it and do it in a way that gets the consent of the consumer every time before information is shared,鈥� Sandler said.

Going after new markets

Three years after launching its platform, Truework has amassed a network of over 40,000 verifiers, including lenders, landlords and background check companies, Sandler said. Demand to join the platform has increased quickly鈥攖he number of verifiers increased 60 percent from December 2019–as more companies have gone remote and aren鈥檛 there to answer phones or check fax machines, he added.

The company also signed on with to provide a hotline and support services for its employees, as well as working with tech law firm , on its policy around return-to-work.

Truework will be using the Series B funds to continue its growth into new markets, new features and more value-added offerings, Sandler said. Its employer network already includes nearly 100 enterprise companies and more than 20,000 small businesses, the company said in a written statement.

One of those new markets is medical information. In March, the company launched an application programming interface to allow lenders and medical staffing agencies to integrate Truework鈥檚 verification service directly into their applications and workflows. In addition, Truework went live last week with a free product for HR teams to track COVID-19-related data throughout its workforce while maintaining employee consent, Sandler said.

鈥淲e also plan to go deeper into the health care industry to address medical staffing,鈥� he said. 鈥淓mployers need to verify new doctors and nurses as they start, including COVID testing results, vaccinations, certifications and other pieces of information.鈥�

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