Trustlayer

About Trustlayer

TrustLayer operates as a collaborative risk management platform, offering an AI-powered solution to automate the verification of insurance, licenses, and other compliance documents. The company was founded in 2018 by John Fohr and Vincenzo Acinapura. Since its inception, the company has secured $23.2 million in total funding over four rounds, including a significant $15.1 million Series A round in August 2021 led by Craft Ventures. This funding has been supported by over 20 of the top 100 U.S. insurance brokers and major carriers, who have not only invested but also partnered with the firm.

The firm's core business revolves around a software-as-a-service (SaaS) platform that replaces manual, paper-based verification processes with robotic process automation (RPA) and artificial intelligence. This system streamlines the collection, tracking, and verification of documents like Certificates of Insurance (COIs) and W9s, reducing administrative overhead and mitigating risks associated with non-compliance. The platform is designed for businesses that manage numerous vendors, subcontractors, or partners and is utilized across industries such as construction, real estate, finance, property management, and hospitality. Revenue is generated through quote-based annual subscription plans, with different tiers (Starter, Pro, Complete) designed to scale with a client's number of vendors.

TrustLayer's platform provides a centralized dashboard for managing compliance, offering real-time verification and updates. Key features include automated document collection, real-time verification against carrier databases, customizable compliance rules, and a vendor portal for document submission. This automation allows risk managers to move from manual spot-checking to a more strategic oversight role, with some clients reporting significant increases in verified compliance within weeks of implementation. The platform's security and operational integrity are underscored by its SOC 2 Type II compliance, a critical standard for handling sensitive customer data. By digitizing and automating the verification process, TrustLayer aims to establish greater trust and transparency between businesses and their partners.