Truework, a San Francisco, CA-based verified identity platform that gives consumers control over their personal and professional information, raised $12m in Series A financing.
The round was led by Sequoia Capital with participation from Stanford University and existing investors Khosla Ventures, Menlo Ventures, and Founder Collective. In conjunction with the funding, Alfred Lin, partner at Sequoia Capital, is joining Truework’s board.
The company intends to use the funds to scale the product and engineering teams and expand the scope of its identity platform for consumer and enterprise users.
Founded by Ryan Sandler, Ethan Winchell and Victor Kabdebon in 2017, Truework is building a network for verified identity that puts consumers in control of their sensitive personal information. The company is initially focused on verified employment & income data, information that is necessary for the lending and housing markets to function smoothly. Truework’s platform digitizes this process for HR departments, banks, and others, to make it faster and more secure for employees to get verified when applying to transactions like loans and apartment rentals.
Today, Truework’s network is comprised of hundreds of employers, including The College Board, Oscar Health, InVision, and Tuft & Needle.
The company serves over 3,000 financial institutions and has verified income data on more than $2 billion of home loans.