TrueAccord operates a machine-learning powered, data-driven debt collection platform that personalizes outreach and payment options via a decision engine tuned to consumer behavior. The company reports more than 2 million customers on its platform since inception and over $1.5 billion of debt flowed through the platform since 2014. TrueAccord says it outperforms traditional agencies, beating their collection rates by a minimum of 50% and up to 500%. The platform emphasizes consumer experience and compliance while increasing recovery rates for financial institutions, debt buyers, lenders, and technology companies. TrueAccord plans to use new funding to continue product development and innovation, expand into vertical markets, enhance audit and compliance functionality, and invest in client acquisition, retention, and hiring. The company highlights machine learning to humanize debt collection and improve engagement, satisfaction, and recovery outcomes. TrueAccord provides an automated debt recovery platform that works with small and large businesses to recover lost revenue and helps consumers create flexible payment solutions. The platform leverages behavioral analytics, machine learning and a humanistic approach. It already counts major enterprise companies across the online ecosystem as customers, as well as small businesses. The company was created in 2013 by Ohad Samet (CEO), Nadav "Sr" Samet and Nadav "Jr" Samet and is based in San Francisco, California. TrueAccord closed $5M in Series A funding in 2014. The round included investments from Khosla Ventures, Caffeinated Capital’s Raymond Tonsing, Max Levchin, Bryan Johnson, Homebrew and others.

Total raised

$27M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2017