Internet authenticity startup Truepic raises $8m

Truepic, a San Diego, CA-based provider of a digital photo verification platform, raised $8m in Series A funding.

The financing round includes participation from Dowling Capital Partners; Jeffrey Parker, co-founder of FirstCall & former CEO of Thomson Financial; Andrew Filipowski, founder and CEO of Platinum Technology and SilkRoad Technology; William Sahlman, a Harvard Business School professor and venture capitalist; among others.

Truepic claims to the ‘world’s first notary for digital photos’, enabling businesses, organisations, and consumers to verify photos as authentic. Since its market launch in 2017, Truepic has been used in over 100 countries by consumers and some the world’s top organisations across a number of industries, including insurance, media, humanitarian, home and vehicle rentals, beauty, and others.

The company enables insurance companies to cut fraud and reduce claims expenses by implementing mobile app visual inspections & verified photo claims. It also helps property managers and vacation rental services get visual confirmation to determine if homes are accurately listed and properly maintained. Despite listing these industries on their website, Truepic claims to open to other industries as well.

“We started Truepic long before manipulated images impacted democratic elections across the globe, digital evidence of atrocities and human rights abuses were regularly undermined, or online identities were fabricated to advance political agendas – but now we fully recognise its impact on society,” according to Craig Stack, Truepic founder & COO.

“It’s never been more apparent how much the world needs the Truepic technology to help right the wrongs that have been created by the abuse of digital imagery. While social media platforms are working to address the technology shortfalls and loopholes that allowed this level of fabrication and manipulation, they still struggle with detecting and stemming this misinformation.”

Photos taken with the Truepic app cannot be altered, filtered or modified in any way. With well over 1.8 billion smartphone photos captured and uploaded to the internet each day, Truepic’s application allows anyone with a smartphone to capture a certified authentic image and share it online instantaneously.

Organisations adopting Truepic’s technology include the Syrian American Medical Society (SAMS), using Truepic’s technology to document the humanitarian situation in Syria; the Antiquities Coalition and its partners, using Truepic to document historical and cultural heritage sites under threat; Kopari Beauty, using Truepic to capture certified authentic before & after photos; and others.

Copyright © 2018 RegTech Analyst

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