Pravda Records was founded by Kenn Goodman and his college roommate Rick Mosher in 1984 while they were both students at Northern Illinois University.
To date, Pravda Records has over 100 releases in a variety of genres from artists such as Grammy Award-nominated Susan Voelz, Glenn Mercer of The Feelies, and late Motown legend Andre Williams.
In 1993, Goodman started subsidiary label Bughouse Records focusing on outsider artists performing live in Chicago.
Artists on Bughouse include, Tiny Tim, Legendary Stardust Cowboy, Cordell Jackson, and Hasil Adkins.
In June 2022, Pravda celebrated 38 years at Skokie microbrewery Sketchbook Brewery Co. with Pravdafest, the label's first-ever music festival.