Round led by Gaingels, ManchesterStory Ventures, and Rebalance Capital
NEW YORK, NEW YORK, UNITED STATES, July 22, 2021 /EINPresswire.com/ — Trusty.care today announced it closed a $4m series Seed round at a valuation of $15.5m. This round of funding was led by Gaingels, ManchesterStory Ventures, and Rebalance Capital with the participation of Boro Capital and various family offices and Angel investors.
“Trusty.care has built an equally scalable and impactful way to help solve a sizable injustice — senior bankruptcy from out-of-pocket medical expenses. Their differentiated data set addresses the abusive insurance product placement crisis, solving a true market problem. We couldn’t be more proud to be part of this journey,” says Josh Tanenbaum, Managing Partner, Rebalance Capital
“As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQ+, Gaingels is proud of participating in this financing and is resolved on helping the company grow and scale while strengthening its prospects of success by building a culture that reflect the diversity of its executive teams, staff, and customers,” says Lorenzo Thione, Gaingels’ Managing Director.
“We are honored to work with these investors to transform the way people in the U.S. purchase insurance products,” says Joseph Schneier, CEO at Trusty.care. “Our investors are part of making our vision a reality: reducing bankruptcy due to out-of-pocket healthcare costs.”
This new round of funding will be used to support Trusty.care’s growth and to expand its product offering. Specifically, the areas that the company will focus on are:
• Sales to regional carriers
• Growth within our core market of FMOs and agencies
• Building our member retention toolkit
In the last 12 months, Trusty.care has grown from 100 professionals to 37,000 professionals using Trusty.care to power their business. This round brings Trusty.care’s total Seed stage funding to $8.5m.
Trusty.care is a New York based InsurTech company working to improve efficiencies in the distribution of senior, individual, and ancillary products. By connecting the point of sale to the needs of the consumer, Trusty.care is able to radically improve consumers’ financial stability related to healthcare costs and decrease rapid disenrollment.
ABOUT REBALANCE CAPITAL
Rebalance Capital helps foster an inclusive world that gives all humans opportunities to better themselves, and in turn, society as a collective. Systematically, that means access to capital, education, and mobility. Rebalance seeks to bridge the divide in these three areas by investing in EdTech, FinTech, and mobility solutions.
Gaingels is the leading investment syndicate in support of and representing the LGBTQ community and allies in the venture capital space. With over $300,000,000 deployed into a portfolio of over 700 companies since 2018, Gaingels is also the co-founder of Mathison.io and provides an internal at-cost diverse board member/observer recruitment advisory for our portfolio companies. Gaingels invests in companies with LGBT founders and C-suite leaders at all stages of growth, as well as in other high-growth companies resolved on building more inclusive teams. Gaingels is a founding co-signer of the Diversity Term Sheet Rider Initiative to increase access to venture funding events for non-traditional check writers, and regularly co-invests with select VC leads across a variety of sectors, from technology, to B2B, healthcare and consumer, in competitive and over-subscribed rounds from Seed to Growth/pre-IPO. For more information visit www.gaingels.com.
ManchesterStory is a venture capital firm partnering with market-leading companies in the InsurTech, FinTech and Healthcare Sectors. Decades of experience with high-growth companies means ManchesterStory has significant expertise identifying exceptional management teams with the vision and capacity to identify major problems and effectively scale their business, and regularly invests with teams that have achieved early revenue generation.
Source: EIN Presswire