Recovery Industry Services Company

What Recovery Industry Services Company does

Recovery Industry Services Company (RISC), founded around 2002 and headquartered in Tampa, Florida, is a compliance services and certification company serving the U.S. collateral recovery (repossession) industry. RISC operates a cloud-based Learning Management System delivering the Certified Asset Recovery Specialist (CARS) national certification, seven state-specific CARS programs (CA, FL, IL, LA, MA, RI, TX), annual Continuing Education, Driver Safety, Skip Tracer, and Certified Commercial Recovery Agent (CCRA) certifications, with curriculum co-developed and annually updated by consumer finance law firm Hudson Cook, LLP. The company also operates a Vendor Compliance Platform providing 24/7 monitoring of insurance, licenses, background checks, and education certificates for lenders and national forwarding companies, alongside an Onsite Lot Inspection program and a Compliance API for enterprise integrations with repossession workflow systems.

RISC's business model blends one-time certification purchases with recurring subscription revenue. The lender/forwarder segment is served via direct enterprise sales of vendor vetting and inspection contracts, while the recovery agent and agency segment purchases certifications and RISC Pro membership ($125/month with no setup or cancellation fees) through a self-serve e-commerce platform. RISC Pro members receive compliance management tools, business document templates, directory visibility, and discounts across the education catalog, and their badges are surfaced natively in Recovery Database Network (RDN) and MBSi Corp's Recovery Connect and VendorConnect platforms. The company has expanded through acquisitions of Recovery Compliance Solutions (2017) and Recovery Standard Training (2018) and operates a complementary job portal, RepoHiring.com. Leadership consists of Founder & CEO Stamatis Ferarolis and President Holly Balogh, with no disclosed external funding, parent company, or institutional investors.

Name

Recovery Industry Services Company

Legal name

RISC LLC

Website

https://riscus.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Recovery Industry Services Company (RISC) is a Tampa-based compliance and certification provider for the U.S. collateral recovery industry, offering CARS certification programs, vendor vetting, onsite inspections, and RISC Pro membership to lenders, national forwarders, and recovery agencies.

Ownership category

akta.pro rank

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Certification Programs: One-time purchase certification programs for recovery agents including CARS National, state-specific CARS (CA, FL, IL, MA, RI, TX, LA), and CCRA commercial recovery certification. Lifetime certification with annual CE recertification.
2. Continuing Education: Annual continuing education courses required for CARS recertification. Federal Law and state-specific CE courses available. State-specific CE now included free with Federal Law CE purchase.
3. RISC Pro Membership: Monthly subscription membership at $125/month providing compliance management tools, marketing directory visibility, discounts on education, and business document templates. No setup or cancellation fees.
4. Vendor Vetting Services: Compliance monitoring and document management services for lenders and national forwarders. Includes insurance verification, license tracking, background checks, and 24/7 secure document storage.
5. CARS Financial Client Training: Annual certification program for lenders and national forwarders covering federal and state repossession laws. $99 per participant with certificate and digital badge.
6. Driver Safety Certification: Professional defensive driving training program for tow truck operators. $65 per course, free to RISC Pro members and bundled free with any education purchase.
7. Skip Tracer Certification: National certification program for skip tracing. $180 per course, 20% discount for RISC Pro members.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

RISC provides compliance services and professional education for the U.S. collateral recovery (repossession) industry. Core offerings include the CARS (Certified Asset Recovery Specialist) national and state-specific certification programs, continuing education courses, the CCRA commercial recovery certification, skip tracer and driver safety training, plus lender-facing services such as vendor vetting and vendor onsite lot inspections. The company also operates the RISC Pro membership platform and the RepoHiring.com job portal.

Product overview

RISC (Recovery Industry Services Company) operates as a compliance services platform offering a comprehensive suite of education, certification, and compliance management products for the collateral recovery (repossession) industry. The product portfolio centers on the CARS (Certified Asset Recovery Specialist) certification program ecosystem, which includes national certification, seven state-specific programs (CA, FL, IL, LA, MA, RI, TX), and CARS Continuing Education courses. Supporting certifications include the CCRA for commercial recovery and Skip Tracer certification. RISC Pro membership provides marketing, compliance management, and education discounts. On the lender side, RISC offers Vendor Vetting Services for 24/7 compliance monitoring and Vendor Onsite Inspections for independent lot verification. The company also operates RepoHiring.com as an industry-specific employment portal. All education is updated annually by legal partner Hudson Cook, LLP and is accredited by the State of Florida Division of Licensing.

Differentiator

Problem solved

Functional benefit

Brands

• RISC Pro: A membership program for collateral recovery agencies providing marketing, compliance management, and education benefits. Includes verified directory listing, discounts on education programs, compliance monitoring, and business document templates.
• RepoHiring.com
• CARS (Certified Asset Recovery Specialist)
• CARS FC (CARS Financial Client)
• CCRA (Certified Commercial Recovery Agent)
• Skip Tracer Certification

Products and services

• CARS National Certification Lifetime certification for self-help repossession agents covering all federal and state regulations and best practices. Accepted in all 50 states and by all major lenders. Requires annual CARS Continuing Education recertification.
• CARS State-Specific Programs (CA, FL, IL, LA, MA, RI, TX) State-specific CARS certification programs for recovery agents in California, Florida, Illinois, Louisiana, Massachusetts, Rhode Island, and Texas, each adding state-mandated content on top of the national CARS curriculum.
• CARS Continuing Education Annual continuing education courses for maintaining CARS accreditation, covering Federal Law, state-specific courses for CA, FL, IL, LA, MA, RI, TX, and Professional Conduct.
• Driver Safety Certification Training program for tow truck operators covering professional defensive driving techniques, management procedures, driver training, employee screening, accident reporting, and USDOT regulations. Free for RISC Pro members; $65 for non-members.
• Certified Commercial Recovery Agent (CCRA) National certification program for commercial recovery agents covering self-help recovery of commercial collateral. Priced at $360 with 20% discount for RISC Pro members. Authored by Mark Lacek.
• Skip Tracer Certification National certification program for skip tracing covering methodologies, tactics, communication, data sources, social networking techniques, and relevant laws. Priced at $180 with 20% discount for RISC Pro members.
• CARS Financial Client Annual certification program for lenders and national forwarding companies covering federal and state repossession laws. $99 per participant with certificate and digital badge. Created in collaboration with Hudson Cook, LLP.
• RISC Pro Membership Monthly membership at $125/month for collateral recovery agencies providing RISC Pro badge displayed in RDN and MBSi platforms, verified directory listing, business document templates, and discounted pricing on all education courses.
• Vendor Vetting Services 24/7 monitoring of third-party vendor compliance including insurance, licenses, company documentation, background checks, and education certificates. Includes RISC Errors & Omissions insurance coverage and a Compliance API for client integration.
• Vendor Onsite Inspections Independent third-party inspections of vendor lots and locations covering business information, document handling, key management, property storage, site security, alarm systems, fire protection, and interior/exterior photos.
• RepoHiring.com Free employment portal for the repossession industry connecting employers with qualified job seekers including agents, lenders, forwarders, service providers, skip tracers, and locksmiths.

Quantifiable outcome

• Trusted by 40+ leading lending institutions and national forwarding companies
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Hudson Cook, LLPcoreStrategic or Co-development Partner · 28 September 2020Leading consumer financial law firm that collaborates with RISC on curriculum development and annual updates for CARS, CARS CE, and CARS Financial Client programs. Partners with RISC to ensure education meets current federal and state law requirements.
• Western Skies MGAminorGTM or Marketing Partner · 23 August 2020Insurance brokerage firm writing coverage for towing and repossession industry. Endorses RISC's CARS certification, Driver Safety, and RISC Pro membership. Recommends RISC Pro members to their customers as having the best training.
• Recovery Standard TrainingcoreStrategic or Co-development Partner · 29 May 2018Acquired by RISC, bringing Recovery Standard's compliance training and learning management system together with RISC's certification program.
• Recovery Compliance Solutions (RCS)coreStrategic or Co-development Partner · 26 May 2017Acquired by RISC to expand industry-leading compliance and training capabilities for collateral recovery specialists.
• Recovery Database Network (RDN)coreTechnology or IntegrationRDN displays RISC Pro badge in their platform, allowing lenders to identify compliant agents. Partnership provides visibility for certified agents to lenders using RDN systems.
• MBSi Corp (Recovery Connect)coreTechnology or IntegrationRISC Pro badge displayed in MBSi's Recovery Connect platform. Partnership allows RISC Pro members to showcase compliance to lenders on the MBSi platform.
• Vendor Transparency SolutionsminorStrategic or Co-development PartnerPartner for recovery education and compliance solutions. Published in SubPrime Auto Finance News regarding automotive intelligence.
• Orion Fleet IntelligenceminorGTM or Marketing PartnerCamera systems provider offering discounts exclusively to RISC Pro members. Provides fleet intelligence cameras at member-only pricing.
• Alex Price (SkipGuru)coreStrategic or Co-development Partner30+ year skip tracing expert who authored RISC's Skip Tracer Certification Program. Also serves as Director of Training & Development at LocateSmarter. Donated proceeds to Innocent Lives Foundation.
• Mark LacekcoreStrategic or Co-development PartnerAuthor of RISC's CCRA commercial recovery certification program. Considered one of the nation's leading expert witnesses on professional standards in repossession. Founder of Professional Repossessor Magazine.
• Innocent Lives Foundation (ILF)minorGTM or Marketing PartnerNonprofit utilizing OSINT professionals to unmask child predators. RISC donated Skip Tracer certification proceeds to ILF in 2021. Over 239 cases accepted by law enforcement.
• Insurance Carrier PartnersminorOthersRISC reviews agencies' insurance policies as part of vendor vetting. Operates in a niche $50MM insurance market for repossession with few providers.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Others

• Traxxis GPS: GPS technology provider for the recovery industry that partners with RISC. Comparable as an enabling technology supplier to the same repossession agent customer base RISC certifies.

Direct peers

• American Recovery Association (ARA): Long-standing national trade association for the asset recovery and repossession industry. Like RISC, ARA sets professional standards, provides member education, and connects lenders, forwarders, and recovery agencies across the U.S.
• National Finance Adjusters (NFA): Trade body serving repossession professionals and lenders, offering training, networking, and certification-adjacent services. Comparable to RISC as another institutional layer providing education and standards in collateral recovery.
• Recovery Database Network (RDN): RISC platform partner that displays the RISC Pro badge; RDN is a network connecting repossession agents, lenders, and forwarders. Overlap with RISC in vendor discovery and compliance visibility makes it a directly comparable industry-network peer.
• MBSi Corp (Recovery Connect / VendorConnect): Reposassignment and vendor compliance platform serving lenders and forwarders; MBSi integrates with RISC for vendor compliance documentation. Comparable to RISC because it sits at the same intersection of lender vendor management and recovery agency compliance.
• LocateSmarter: Skip tracing data and services provider that co-developed RISC's Skip Tracer certification with Alex Price. Directly comparable as a training/data peer in the repossession and skip tracing space.
• Commercial Recovery Association: Industry association for commercial collateral recovery professionals. Comparable to RISC's CCRA program as both serve the commercial repossession segment with education and standards.

Regional players

• Western Skies MGA: Insurance brokerage writing coverage for the towing and repossession industry and endorsing RISC certifications. Comparable as a niche industry services provider adjacent to vendor compliance and risk management.

Broad incumbents

• Copart: Public, large-scale online auction platform for salvaged and repossessed vehicles. Comparable as a broad incumbent operating in the downstream repossession value chain that RISC's certified agents feed into.
• IAA (Insurance Auto Auctions, part of RB Global): Large vehicle auction company handling total-loss, salvage, and bank-repossessed vehicles. Comparable as a broad incumbent in the repossession ecosystem that interacts with RISC-certified recovery agencies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/RISCTrainingAndCompliance
• LinkedInlinkedin.com/company/risc-us

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Recovery Industry Services Company