True Office, a New York City-based company that provides gamifies regulatory and compliance training solutions, has raised $3m in Series A financing.
Backers included Rho Ventures, the Partnership for New York City Fund and Contour Venture Partners.
The company intends to use the capital to expand True Office’s current presence within the financial services sector and to extend its offering into other highly regulated markets including healthcare.
Founded in 2010 by CEO Adam Sodowick and also led by Cristóbal Conde, Executive Chairman, who is the former President and CEO of SunGard, True Office provides enterprise gamification solutions with applications in business-critical areas such as regulatory and compliance training. The company creates data-rich, mobile games that help companies transform mandatory compliance training into a fun, intelligible and quantifiable experience.
In 2012, True Office was chosen to participate in FinTech Innovation Lab, which is run by the Partnership for New York City Fund and Accenture.
In conjunction with the funding, Patrick Wack, Chairman of IntraLinks (NYSE: IL) and Venture Partner at Rho Ventures, and David Eisner, former CEO and President of TheMarkets.com, will be joining the company’s board.
True Office also has offices in Boston.