Truework Reels In $50 Million Series C

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">SAN FRANCISCO <&sol;span><&sol;span><&sol;strong>&&num;8212&semi; <u>Truework<&sol;u>&comma; a company that provides income and employment verification for the nation&&num;8217&semi;s largest mortgage&comma; auto&comma; and consumer lenders&comma; has raised <span class&equals;"xn-money">&dollar;50 million<&sol;span> in Series C funding&period;<&sol;p>&NewLine;<p>Leading the Series C round was G Squared&comma; with returning investors Sequoia Capital&comma; Activant Capital&comma; and Khosla Ventures also participating&period; New investors include Indeed&comma; Human Capital&comma; and Four Rivers Group&period; The completion of this round will support planned product development&comma; additional hiring&comma; and foster the company&&num;8217&semi;s continued growth as an efficient&comma; secure&comma; and user-friendly platform for income and employment verification&period;<&sol;p>&NewLine;<p>By digitizing and simplifying the income and employment verification process for banks&comma; lenders&comma; payroll providers&comma; and HR departments&comma; Truework streamlines the lending process for both lender and borrower&period; With consumer consent as a foundation&comma; Truework verifies income for important extensions of credit&comma; such as mortgages and auto loans&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Automation and efficiency are at the heart of what we do at Truework&comma; and building the future with a consumer-first mindset goes into every decision we make&comma;&&num;8221&semi; said Truework CEO <span class&equals;"xn-person">Ryan Sandler<&sol;span>&period; &&num;8220&semi;With access to over 35 million &lpar;and counting&rpar; US employee records&comma; Truework enables lenders to convert more borrowers and make faster credit decisions with verified income&period; Series C funding will help us further empower both sides of the verification equation and help build a more efficient&comma; secure&comma; and stable credit system&period;&&num;8221&semi;<&sol;p>&NewLine;<p>From local credit unions to large banks&comma; Truework connects consumers to more than 17&comma;000 lenders across the country&comma; often enabling income verification within seconds&comma; increasing applicant conversion by up to 14&percnt;&comma; and reducing verification cost per loan by 60&percnt;&period;<&sol;p>&NewLine;<p>Truework will service more than 12 million income and employment requests in 2022&comma; from more than 20&comma;000 small businesses and 100 enterprises&period; Its mortgage customers include 20 of the top 25 lenders&comma; like Fairway Independent Mortgage&comma; Caliber&comma; Guaranteed Rate&comma; Citizens Bank&comma; and LoanDepot&period; Its recent expansion into consumer lending has won customers like Carvana&comma; Octane&comma; and Figure&period;<&sol;p>&NewLine;