Trust Stamp secures over $1M funding from general public within two days
Trust Stamp has secured more than $1 million in a Series A round of funding from the general public within two days to support the growth of its privacy-preserving identity technology, the company announced.
The company aims to raise $5.6 million through SeedInvest, and has already secured $2.575 million off-platform from Mastercard International, FSH Capital, Second Century Ventures and the OnRamp Insurance Accelerator program. Trust Stamp has gained interest from both accredited and unaccredited investors.
“This show of public confidence in our core technology and growing development trajectory, our passionate and experienced team, and our mission to accelerate secure societal and financial inclusion, globally, reinforces our responsibility to deliver equitable, privacy-preserving identity solutions while boosting our momentum even further,” said Trust Stamp CEO Gareth Genner, in a prepared statement. “During this recently unprecedented time of financial and societal uncertainty, it is all the more powerful that so many have chosen to invest in Trust Stamp and our work to transform identity and privacy.”
Trust Stamp delivers interoperable identity proofing that prevents identity fraud and data loss. It develops biometric solutions and Irreversibly Transformed Identity Tokens (IT2), privacy-enhancing techniques that use anonymized data, to establish trust.
The company was recognized by TechCrunch as a cybersecurity innovator in an article on tech investment earlier this year. Trust Stamp’s customer portfolio includes large financial institutions such as Synchrony Financial and Mastercard International. Its technology has been used for humanitarian services, international government initiatives, KYC/AML compliance, and customer onboarding and account access in multiple verticals, including banking, FinTech, real estate, and law enforcement.
In April, Trust Stamp launched a new tool to provide biometric privacy-protecting location-tracking, leveraging the company’s core technology with cryptographic anonymization and matching algorithms.
The company also added a number of experts in artificial intelligence, machine learning, and data analysis to its science team to boost biometric identity product development with a focus on public health and security. Other recent milestones include launching AiiD, a Public Benefit Corporation subsidiary, and welcoming to the team former British Intelligence Cybersecurity experts, Dr. Niel Kempson and Daryl Burns.