TrueAccord raises $22M to make debt collection less stressful with machine learningEric David / SiliconANGLE - 2 years ago
  • Anyone who has had to deal with debt collection knows how terrifying and stressful the experience can be.
  • The Series B funding round was led by Arbor Ventures, and it also included participation by Abhor, Nyca Investment Partnership, Assurant Growth Investing, Caffeinated Capital Fund, Felicis Ventures, TenOneTen and Crystal Towers.
  • Founded in 2013, TrueAccord uses machine learning to streamline debt collection, making it more manageable for the people in debt, while at the same time increasing recovery rates for the financial institutions to whom they owe the money.
  • TrueAccord’s platform uses machine learning to analyze consumer behavior and determine when and how they should be contacted about their debt, as well as the best payment options to offer.