Trov Aims to Re-Invent Management of Tangible Assets; Targets Multi-Billion Dollar Wealth Management and Property Insurance Markets

Company Acquires Varda, Inc. and Asset Archives, Inc.; Accelerates Time-to-Market Advantage

SAN RAMON, Calif.--(BUSINESS WIRE)-- Trov aims to reinvent tangible asset management by automating the way people collect, manage and benefit from the information about their most valuable possessions – from jewelry, art and collectables, to real estate, cars, boats and even appliances.

Trov’s web-based applications

The company is working closely with industry-leading companies in wealth management and property and casualty insurance to help them improve their risk management capabilities.

Trov will initially target the approximately 5 million high and ultra-high net-worth individuals in the U.S. who are the most acquisitive and own the largest number of tangible assets. The solution will create opportunities for service providers – family offices, private wealth managers, and leading property and casualty insurers – to expand the nature and quality of their services while creating new ecosystems for private community interactions, marketplaces and more. Trov’s products will ultimately be expanded to include affluent and middle-income demographics.

Today, Trov is announcing the acquisition of Varda Inc., which will establish the foundation for Trov’s web-based property management platform; and Asset Archives, a 10-year old company providing digital documentation and appraisal services for residential contents and collections. With more than 400 clients combined, the two companies provide instant expansion of Trov’s product portfolio, reference customers and domain expertise, making it the de facto market leader in a burgeoning category.

Trov was founded by technology entrepreneur Scott Walchek, who is also chairman and CEO of the company. Walchek’s career highlights include Marcomedia (now Adobe, NASDAQ: ADBE); consumer commerce search leader C2B/Inktomi (now Yahoo, NASDAQ: YHOO); co-lead investor and founding director of Baidu (NASDAQ: BIDU), China’s dominant search engine; and founder and CEO of electronic debt exchange DebtMarket, Inc. (now Intercontinental Exchange, NASDAQ: ICE).

“The two companies, Asset Archives and Varda, are pioneers in what will surely become one of the most important frontiers in technological innovation: the active management of tangible assets,” said Walchek. “Since roughly 50 percent of worldwide household wealth is locked up in non-financial assets, our combined team aims to unlock this other half of global wealth.”

Trov’s web application for property management is currently available, with a broader slate of applications planned for later this year. For more info, please visit: www.trov.com.

About Trov

Trov is a software company that helps users collect, secure and actively manage the information about all they own and treasure. Trov’s web and mobile applications provide insights, expertise and recommendations that help its customers and their advisers unlock the potential of tangible assets and discover new ways to benefit from them. Privately funded, the company has offices in the San Francisco Bay Area and Atlanta, GA.

Trov
Cybele Diamandopoulos, 512-535-4422
cybele@foliocom.com

Source: Trov