Truv, Inc.

Truv, Inc. is a US-based technology company specializing in real-time verification of income, employment, assets, and insurance, enabling organizations in financial services to make informed decisions through reliable data. Founded in 2020 by Ilya Chatsviorkin and Kirill Klokov, Truv, Inc. is headquartered in San Francisco, US.

The company focuses on providing a unified platform for financial data verification. In March 2022, Truv raised USD 25 mn in Series A funding led by Kleiner Perkins, with other investors including Abstract Ventures, Elefund, Fathom Capital, Function Collective, Inc. , Nyca, and Soma Capital Management. This round brought the total amount raised to USD 25 mn and the current company valuation to USD 90.

51 mn. Truv offers a unified platform that facilitates the verification of income, employment, assets, and insurance, aimed at enhancing decision-making processes for organizations in the financial services sector. Key products include Truv Bridge, which focuses on improving user experience through seamless integration, and the Truv Dashboard, designed for developers and operations teams to manage data effectively. The platform serves diverse end users, including mortgage lenders, consumer lending organizations, retail banks, and property management companies, effectively addressing their needs for reliable financial data verification.

Truv's core functionalities are utilized to streamline operations in various markets, particularly in the United States, where the demand for real-time data verification is critical for mortgage and consumer lending sectors, as well as tenant screening services. Truv generates revenue through a structured model that primarily revolves around B2B partnerships, providing integral services to organizations that require verifiable financial data. Clients access services on a subscription basis, leveraging Truv’s capabilities for income and employment verification, asset assessment, and insurance validation. The transaction structure involves a direct relationship where businesses pay for the access and usage of specific services, such as real-time data verification and integrations with industry platforms like Encompass and nCino.

Although specific pricing plans for services are not disclosed, the offerings are tailored to meet the needs of various sectors, ensuring that clients receive comprehensive and trustworthy data solutions that enhance their operational efficiency and decision-making processes. In March 2022, Truv, Inc. raised USD 25 mn in Series A funding led by Kleiner Perkins, with participation from investors such as NYCA, Elefund, and Function Collective, Inc. The company will use the funding to accelerate its growth by investing in products, sales and marketing, and partnerships with key financial institutions.

Future initiatives may involve launching new products aimed at enhancing data verification capabilities and expanding into new geographic regions to meet the growing demand for financial data verification.