Latest news with #Truework
Axios
19-04-2025
- Business
- Axios
Exclusive: Checkr buying employment verification startup Truework
Checkr, an API-based background check provider, is acquiring income and employment verification startup Truework, Checkr CEO Daniel Yanisse tells Axios exclusively. Why it matters: The deal marks the latest consolidation among fintech infrastructure providers, as maturing startups are folded into scaled platforms. Checkr declined to disclose the structure and deal valuation. State of play: Yanisse says Checkr — last valued at $5 billion — will continue to be an active acquirer, particularly as valuations have come down and more founders are open to talks. "The path to liquidity and IPOs is long, and the bar is extremely high. So I think many founders realize that the way to do it will be to join forces, either with other fintechs or larger companies," Yanisse says. The big picture: Checkr already has an employment verification product, but Yanisse says Truework's AI and automation use simplifies verification. "We have a pretty good [employment verification] solution, but Truework's workflow, process, product, and performance is just 10x," Yanisse says. Between the lines: The deal also gives Checkr a pathway to serving more verticals, like financial services and property management. Truework serves eight of the top 10 U.S. lenders by origination volume and is integrated with property management platforms like Fortress and RentCafe. "That allows us to expand the use cases and the markets where our data platform can go to and deliver value to more new types of customers," Yanisse says. Catch up quick: San Francisco-based Truework has raised a little over $125 million since being founded in 2017 and was most recently valued at around $480 million, according to PitchBook. Investors include Sequoia Capital, Activant Capital, Khosla Ventures, G Squared and TransUnion. Founded in 2014, San Francisco-based Checkr has raised nearly $680 million, from investors like Accel, Y Combinator, Google, T. Rowe Price, and common investor Khosla Ventures. What's next: Yanisse says Truework will be offered standalone, and its team will continue to develop it independently. At the same time, the two companies are working on a multi-year integration plan.
Associated Press
08-04-2025
- Business
- Associated Press
Truework Appoints Randy Lightbody as Head of Mortgage to Advance Next-Generation Verification Solutions for Lenders
Industry veteran brings over 35 years of expertise to accelerate Truework's mission of transforming income and employment verification SAN FRANCISCO, April 8, 2025 /PRNewswire/ -- Truework, a leading provider of income and employment verification technology, today announced the appointment of Randy Lightbody as Head of Mortgage. With more than 35 years of experience spanning mortgage banking and financial technology, Lightbody brings a unique blend of lender and vendor expertise. Lightbody joins at a pivotal time as Truework continues to expand its intelligent orchestration capabilities, delivering a fully automated and comprehensive verification experience that eliminates the need for costly vendor waterfalls. As Head of Mortgage, he will drive strategic initiatives, deepen client partnerships, and further establish Truework as the preferred verification solution for the nation's top lenders. 'We are thrilled to welcome Randy to the Truework team,' said Ethan Winchell, President and Co-Founder of Truework. 'His proven track record of driving revenue growth and transforming organizations aligns with our mission to reinvent how consumer data is verified. Randy's leadership will accelerate our ability to deliver unmatched value to lenders.' Lightbody's career is marked by transformative leadership at major financial institutions and fintech companies. Most recently, he served as Chief Revenue Officer at Computershare Loan Services, where he grew revenue significantly in five years, playing a key role in the company's recent sale. He co-founded Candor, an AI-powered mortgage underwriting system that revolutionized origination processes, and held the role of Managing Director at Accenture, where he expanded the mortgage outsourcing business. 'Truework's commitment to solving real pain points for lenders with an innovative platform is what excites me about this role,' said Randy Lightbody, Head of Mortgage at Truework. 'Having seen the inefficiencies of traditional verification methods firsthand, I'm eager to lead Truework's efforts in providing lenders with a verification solution that delivers tangible results in reducing the cost of loan origination.' About Truework Truework is the leading platform that solves income and employment verification pain points for mortgage lenders and property management companies. Powered by automation and machine learning, Truework removes the complexities of managing multiple verification vendors in-house by replacing traditional and manual efforts and delivering comprehensive, vetted, and accurate verification reports. To learn more, visit
Associated Press
20-03-2025
- Business
- Associated Press
Truework Unveils Truework Intelligence Platform to Uplevel Its Comprehensive Income and Employment Verification Solution
Truework adds data methods, report predictions and more to accelerate financial workflows with machine learning SAN FRANCISCO, March 20, 2025 /PRNewswire/ -- Truework, a leading provider of income and employment verification technology, today announced it is expanding its intelligent orchestration with new data methods, predictive modeling and more to create Truework Intelligence, the first fully automated and comprehensive verification platform for mortgage lenders and property managers. The Truework Intelligence platform covers the end-to-end verification experience by delivering automatic orchestration, data standardization and insights—replacing homegrown vendor 'waterfalls' and associated internal processes, eliminating guesswork and handing customers a plug-and-play solution. 'We started Truework to reinvent the way consumer data was collected and processed for maximum security and accuracy,' explained Truework CEO and Co-Founder, Ryan Sandler. 'From the early days, machine learning was a core part of our product. It has continued to evolve over time, both through internal modeling efforts and the latest external technologies. The Intelligence Platform is the result of this evolution to truly serve as a single solution for customers.' New product features rolling out include: The addition of bank income and tax transcripts to its existing data methods (instant database, payroll connection, automated outreach and documents) to extend coverage to any U.S. employee. Truework automatically engages with one or multiple methods simultaneously and identifies the optimal method until the request is complete. Predictive modeling for report turnaround times and likelihood of report completion to provide further transparency and deeper insights into the verification process. This is in addition to existing machine learning models that match data points across real-world entities, extract and parse data for accuracy and estimate the accuracy of income according to employment details. Strategic integrations to bring Truework to wherever teams work. The platform is built with the flexibility to bring intelligent verifications to anywhere in an organization's existing processes, either through custom configurations, custom-built integrations, or system integrations. Truework Focuses on Successful Business Outcomes vs. Hit Rates Today's consumer data space is overcrowded with point solutions or resellers who mishandle or provide inaccurate data and ultimately do not solve for holistic business outcomes, making it a lose-lose situation for organizations and consumers. Truework is the only verification solution to focus on solving for business outcomes. 'It's not about returning the first data set we find,' said Ryan Sandler, CEO and Co-Founder of Truework. 'That's what everyone else does. And it doesn't work. It makes organizations leverage subpar vendors to fill data gaps. We are looking at the bigger picture by providing an accurate and complete picture of every consumer, using technology to handle data with trust and attention to detail.' Working with eight of the country's top 10 lenders by origination volume, Truework's technology has already helped mortgage lenders across the U.S. cut costs by 50% with speed, accuracy, and average completion rates of 75%. To see Truework's latest product enhancements, visit our website. Mortgage lenders or property management companies are encouraged to reach out to learn more and be early adopters. About Truework
