SAN FRANCISCO, CA, TruValue Labs announced it has closed a $13.6 million Series A funding round led by Katalyst Ventures.
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TruValue Labs, the San Francisco-based leader in artificial intelligence (AI) driven environmental, social, and governance (ESG) data, today announced it has closed a $13.6 million Series A funding round led by Katalyst Ventures. Other investors include the Hearst Financial Venture Fund, The Entrepreneurs' Fund, Sun Hung Kai Strategic Capital Limited, as well as industry leaders William Campbell, former Chairman of JPM Chase Card Services, CEO at Citibank Global Consumer; and Tom Chavez, former CEO and Co-Founder at Krux Inc., a Salesforce Company.
"I've been involved with TruValue Labs since inception and seen them build market-leading momentum, and I am excited to support them through this period of growth," said Susan Choe, general partner of Katalyst Ventures. "TruValue Labs is at the tipping point of financial technology analysis by combining AI, big data analytics, and ESG analysis, opening up a rare opportunity to disrupt and redefine the fintech market."
This funding round will further enable TruValue Labs to meet the growing demand for AI and data analytics technologies that allow investors to identify intangible risks and opportunities in unstructured data. The new funds will allow the firm to continue to expand its client base and accelerate the development of predictive capabilities that uncover additional sources of alpha.
"Our investing is focused on forward-looking companies and I have always loved big data. Between TruValue Labs' depth of industry expertise and advanced technology capabilities, we believe they truly have the ability to transform the ESG and alternative data space," said William Campbell, managing partner CamKo Ventures.
The new funds will also be invested in further developing one of TruValue Labs' core AI assets, the TVL InsightEngine. InsightEngine processes vast amounts of unstructured data and extracts previously unquantifiable material factors that impact financial assets in real-time. The company will focus on accelerating InsightEngine's risk-assessment capabilities, as well as cultivating new proprietary risk factors developed in partnership with asset managers and asset owners. TruValue Labs was the first data provider to partner with the Sustainability Accounting Standards Board (SASB) and incorporate SASB's standards for identifying material sustainability issues by industry.
"This capital raise further solidifies the continued demand from investment professionals for AI-powered technologies and innovative data that can provide them with a strategic advantage versus their peers," said Hendrik Bartel, CEO, and co-founder of TruValue Labs. "Our team of experienced industry experts combined with industry-leading AI technology enables us to process the vast amount of unstructured data produced every day at scale and curate it to meet the individual needs of asset managers and institutional investors alike."
"Environmental, social and governance factors are being considered more and more each day by asset managers as they make decisions on how to construct and manage their portfolios," said Shea Wallon, senior vice president and managing director, Hearst Financial Venture Fund. "TruValue Labs' real-time, ESG data and scoring provide portfolio managers with insights they can't currently access today."
About TruValue Labs
TruValue Labs is the first company to apply artificial intelligence (AI) to uncover timely and material Environmental, Social, and Governance (ESG) information at scale. The company's mission is to deliver increased transparency to investment professionals by providing data and analytics that go beyond traditional fundamentals. The flagship product, Insight360, delivers investable insights by revealing intangible value and risk factors from unstructured data at the speed of current events. Visit www.truvaluelabs.com to learn more about the SaaS and API products.
About Katalyst Ventures
Founded in 2017, Katalyst is a venture capital firm that provides funding and support to early-stage startups driving global impact with world-class, data-driven teams across Fintech, Healthtech and Enterprise Operations. Katalyst has offices in San Francisco with a global network of partners. For more information, visit www.katalyst.ventures.