In the Press

TrueML Acquires ERC Recovery Business

October 4, 2022
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TrueAccord
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TrueML, a financial technology software company developing machine learning-driven products that enable intelligent, digital communication including in the debt collection space, has acquired the debt collection business of Enhanced Recovery Company, LLC (ERC), a leading collections provider. The deal will bring ERC under the TrueML family of companies to accelerate TrueML's mission of creating a better experience for distressed consumers. Since its founding in 2013, TrueML's software has been used to communicate with more than 20 million consumers experiencing collections using a digital-first approach. Acquiring ERC enables TrueML to increase its size, scale and access to industry verticals more rapidly, while accelerating its mission and reaching tens of millions more consumers by augmenting ERC's services with digital capabilities. "This acquisition provides exciting opportunities for TrueML to grow significantly while also paving the way for enhanced service offerings down the road," said Ohad Samet, co-founder and CEO of TrueML. "We envision a world in which no one is locked out of the financial system, and we are growing at a time when best practices for engaging consumers in debt collection are transforming. We are committed to building software that uses machine learning and consumer-centric design to align with consumer communication preferences while delivering results for our clients. The addition of ERC will enable us to expand the scope of our products and services."
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Planck Raises $71M to Date to Expand its First-to-Market Cognitive Business Analytics Platform

September 15, 2022
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Planck
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Planck, leading AI-powered data and analytics platform, recently closed a $23 million funding round to continue its mission of empowering commercial insurers with real-time and accurate insights. The financing, which brings the company’s total to $71 million, was led by Vintage Investment Partners and all existing financial investors, including Team8, Greenfield, Arbor Ventures, Viola, 3L Capital, HDI and Nationwide, alongside private angel investors. “By partnering with Planck, commercial insurance carriers and their agents can achieve breakthrough levels of improvement in their processes and profitability by having clear, real-time views into their underwriting and business risks that are not available from standard industry data flows and typical providers,” said Gary Gregg, former Executive Vice President of Liberty Mutual Group, advisor and investor in Planck’s latest round. “Insurer partners will reap the benefits from these insights to greatly improve their customer experience, operations, and bottom line.”
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Arbor Ventures Establishes Strategic Partnership With Tokio Marine to Accelerate Innovation in the Insurance Industry

August 11, 2022
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Arbor Ventures
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We are very excited to announce our strategic partnership with Tokio Marine Insurance Group and look forward to working together to accelerate innovation in the insurance industry. Melissa Guzy, Managing Partner of Arbor Ventures, commented: "Tokio Marine is a world-renowned leader that Arbor is proud to add as a strategic partner in building the future of FinTech / InsurTech. Arbor looks forward to building the next generation of transformational InsurTech startups together".
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Dubai Buy Now, Pay Later Firm Tabby Secures $150 Million Financing

August 3, 2022
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Tabby
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Dubai-based buy now, pay later startup Tabby secured financing worth $150 million from two US-based investors, in what the company said is the largest credit facility for a fintech firm in the Gulf region. Part of the financing comes from New York’s Atalaya Capital Management, its first deal in the Middle East and North Africa. In addition, San Francisco-based Partners for Growth increased its initial $50 million commitment, Tabby said. Firms like Tabby allow customers to purchase goods and pay for them in instalments. Tabby expects demand to continue rising in the Gulf where access to credit is scarce. Less than 20% of the population has a credit card in Saudi Arabia, the largest Gulf economy, compared to more than 70% in the United States, the firm said.
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Nomi Health Acquires Everyone Health, Sano Surgery

July 13, 2022
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Nomi Health
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As Americans continue to pay more for needed medical treatments and with care costs outpacing the rate of inflation, Nomi Health — the direct healthcare company making it easier than ever to access the highest quality affordable care across the U.S.— has announced two acquisitions to bolster its support of buyers of care and their communities of patients. Nomi Health acquired sister companies Everyone Health and Sano Surgery, both dedicated to affordable and accessible medical treatment, in a $26.5 million purchase.
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TrueAccord Digitally Serves 20 Million Consumers on Path to Financial Health

July 12, 2022
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TrueAccord
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TrueAccord Corp, a debt collection company using machine learning-powered digital recovery solutions, today announced that it has served more than 20 million customers in debt with a digital-first experience. TrueAccord's customer-centric approach and commitment to creating a positive consumer experience is reflected in its 4.7 Google customer satisfaction rating, customer feedback, and an A+ rating with the Better Business Bureau.
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