# TrueAccord

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/trueaccord

- Industry: Software
- Headquarters: Lenexa, US
- Website: www.trueaccord.com
- Total disclosed funding: $27M
- Latest round: Series B (Nov 14, 2017)
- Investors on record: 8

## About

TrueAccord Corp. is a US-based digital-first debt collection agency that utilizes machine learning technology to improve the debt recovery process for consumers and businesses alike.Founded in 2013 and headquartered in Lenexa, US, TrueAccord Corp. specializes in optimizing debt collection through advanced technology. The company was co-founded by Nadav Samet. In November 2017, TrueAccord secured USD 22.00 mn in a Series B funding round led by Arbor Ventures, with several other investors participating. This funding was aimed at enhancing product development and platform innovation.TrueAccord operates as a full-service digital-first debt collection agency, leveraging machine learning technology to enhance the consumer experience during debt recovery. Their primary product is HeartBeat, a patented machine learning platform designed to optimize engagement and improve collection outcomes over time. TrueAccord’s services cater to various stakeholders, including consumers in collections—who receive support for debt settlement—and businesses seeking intelligent collection solutions. Their offerings focus on providing a flexible, self-serve digital experience, which allows consumers to manage their debts through multiple channels effectively. The company serves clients across North America, including businesses in California, Nevada, and New York, among other states, thereby facilitating a broad geographic reach in the debt recovery market.Revenue generation for TrueAccord is primarily driven through a B2B model, where they provide third-party collection services to businesses. Clients typically engage with TrueAccord through subscription-based agreements or service contracts that outline the collection process and expected outcomes. The firm utilizes its flagship HeartBeat platform to enhance recovery rates, with the pricing structure reflecting the tailored services provided to each client based on their specific collection needs and volume. TrueAccord's business transactions involve deploying technology to improve collection efficiency and customer satisfaction, with the firm focusing on end-to-end personalization of communications to maximize recovery potential. Through these structured partnerships, TrueAccord aims to deliver higher liquidation rates and strengthen client relationships within the collections industry.Following a Series B funding round in November 2017, TrueAccord plans to utilize the USD 22.00 mn raised to support its product development and innovation of its platform. The company aims to continue expanding its market presence, specifically targeting new geographic regions to enhance its service offerings. Future initiatives may include the development and launch of new products designed to further improve customer engagement and satisfaction in debt collection.

## Funding rounds

- Series B, Nov 14, 2017, $22M — Felicis Ventures, TenOneTen Ventures, Caffeinated Capital, Arbor Ventures, Nyca, Transpose Platform Management, Assurant Growth Investing
- Series A, Oct 16, 2014, $0.3M — Nyca
- Series A, Sep 16, 2014, $5M — Homebrew, TenOneTen Ventures

## Investors

- Homebrew (https://capitalatlas.ai/funds/homebrew) — Series A
- TenOneTen Ventures (https://capitalatlas.ai/funds/tenoneten-ventures) — Series A, Series B
- Nyca (https://capitalatlas.ai/funds/nyca) — Series A, Series B
- Felicis Ventures (https://capitalatlas.ai/funds/felicis-ventures) — Series B
- Caffeinated Capital (https://capitalatlas.ai/funds/caffeinated-capital) — Series B
- Arbor Ventures (https://capitalatlas.ai/funds/arbor-ventures) — Series B
- Transpose Platform Management (https://capitalatlas.ai/funds/transpose-platform-management) — Series B
- Assurant Growth Investing (https://capitalatlas.ai/funds/assurant-growth-investing) — Series B