TrueAccord, a San Francisco, CA-based debt collections technology company, raised $22M in Series B funding.
The round was led by Arbor Ventures, with participation from existing and new investors including Nyca Investment Partnership, Assurant Growth Investing, Caffeinated Capital Fund, Felicis Venture, TenOneTen and Crystal Towers.
The company intends to use the funds for ongoing product development and innovation of its customer-focused platform, providing audit and compliance functionality, continued expansion into vertical markets, client acquisition and retention, and hiring.
Founded in 2013 and led by Ohad Samet, Chief Executive Officer, TrueAccord provides a data-driven debt collection platform powered by machine learning with a decision engine that analyzes consumer behavior and delivers personalized experiences by communicating with consumers at the right time in the right channel with payment options that meet their needs.
Clients include top 10 issuers, leading creditors, and technology companies such as Yelp and LendUp.