Startup Trust Exchange Raises $4M in Funding
Software platform Trust Exchange raises $4 million dollars from a network of experienced venture capitalists and private family offices. This fresh infusion of capital will be used to grow the team, advance its technology platform and expand sales and marketing efforts.
PHILADELPHIA, April 26, 2022 (Newswire.com) - Cloud-based business information platform Trust Exchange announces that it has closed a $4 million investment from a syndicate of venture capital and private family offices.
Trust Exchange, with offices in Media, PA, and Austin, TX, will use the proceeds to advance its platform, which is used by banks, pharmaceutical companies and local governments to more effectively manage and communicate with other organizations. The emergence and adoption of social technologies have led to the establishment of a novel and rapidly evolving collaborative economy. Businesses have lagged behind consumers in the adoption of technology, creating internal and external communication gaps. Trust Exchange aims to accelerate the adoption of these collaboration platforms in the enterprise.
"Trust Exchange is part of a new breed of software companies that utilizes network effects to enhance communication and collaboration between businesses," said Trust Exchange CEO Edward Sullivan. "Network effect platforms are the next wave of enterprise software. These solutions are easier to deploy, more flexible, and more cost-effective. Via Trust Exchange, organizations can create their own custom networks to solve various problems."
Trust Exchange offers a range of services that assist organizations across multiple industries, including banks, local governments and health care collaborate more effectively. Recently, Trust Exchange has created offerings to more effectively manage supply chain diversity and emerging ESG requirements.
About Trust Exchange
Trust Exchange is a business information gateway that allows for the exchange and verification of mission-critical information with partners, suppliers, and third parties. Trust Exchange is a cloud-based, secure, and scalable platform with high configurability and customization. With a unique approach of peer-2-peer crowdsourcing, Trust Exchange allows customers to automate compliance and regulatory management with high accuracy and real-time data. Trust Exchange is currently serving financial institutions, local governments, and businesses nationwide.
For more information, visit www.trustexchange.com or contact Madeline Sullivan at msullivan@trustexchange.com.
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Source: Trust Exchange
