Tour led by Gaingels, ManchesterStory Ventures and Rebalance Capital
– Joseph Schneier, CEO of Trusty.care
NEW YORK, NEW YORK, USA, July 22, 2021 /EINPresswire.com/ – Trusty.care today announced that it has closed a $ 4 million funding round at a valuation of $ 15.5 million. This funding round 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 developed an equally scalable and impactful way to help solve a major injustice: the bankruptcy of seniors over reimbursable medical bills. Their differentiated data set tackles the crisis of misplacement of insurance products, solving a real market problem. We couldn’t be more proud to be a part of this journey, ”says Josh Tanenbaum, Managing Partner, Rebalance Capital
“As the largest network of investors focused on supporting and investing in the best venture capital-backed companies that embrace and value diverse leadership, including LGBTQ +, Gaingels is proud to participate in this funding and is committed to helping the company grow and grow while strengthening its prospects for success by creating a culture that reflects the diversity of its management teams, staff and clients ”, says Lorenzo Thione, Managing Director by Gaingels.
“We are honored to work with these investors to transform the way people in the United States buy insurance products,” said Joseph Schneier, CEO of Trusty.care. “Our investors are helping to make our vision a reality: to reduce bankruptcies due to healthcare costs. “
This new round of funding will be used to support the growth of Trusty.care and to expand its product offering. Specifically, the areas the company will focus on are:
• Sales to regional carriers
• Growth within our main FMO and agency market
• Build our member loyalty toolbox
Over the past 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 funding to $ 8.5 million.
Trusty.care is a New York-based InsurTech company that strives to improve the efficiency of the distribution of senior, personal and auxiliary products. By connecting the point of sale to the consumer’s needs, Trusty.care is able to dramatically improve consumers’ financial stability related to healthcare costs and reduce rapid unsubscribes.
ABOUT CAPITAL REBALANCING
Rebalance Capital helps foster an inclusive world that gives all humans opportunities to improve themselves, and in turn, society as a collective. Systematically, this means access to capital, education and mobility. Rebalance seeks to bridge the gap in these three areas by investing in EdTech, FinTech and mobility solutions.
Gaingels is the leading investment union that supports and represents the LGBTQ community and its allies in the venture capital arena. With over $ 300,000,000 deployed in a portfolio of over 700 companies since 2018, Gaingels is also the co-founder of Mathison.io and provides internal recruiting advice for diverse board members / observers to our portfolio companies. Gaingels invests in companies with LGBT founders and C-suite executives at all stages of growth, as well as other high-growth companies committed to building more inclusive teams. Gaingels is one of the founding co-signers of the Diversity Term Sheet Rider Initiative to Increase Access to Venture Capital Funding Events for Non-Traditional Check Writers, and regularly co-invests with some VC leaders in various sectors, from technology to B2B, including healthcare. and consumer, in competitive and oversubscribed rounds from Seed to Growth / pre-IPO. For more information, visit www.gaingels.com.
ManchesterStory is a venture capital firm in partnership with market leading companies in the InsurTech, FinTech and Healthcare industries. Decades of experience with high growth companies means ManchesterStory has significant expertise in identifying exceptional leadership teams with the vision and ability to identify major issues and effectively scale their business, and invests regularly with teams that quickly generated income.