Trueface acquired by Pangiam as biometrics market consolidation accelerates
A flurry of acquisitions of face biometrics providers by digital ID companies has swept up Trueface, which has been snapped up by Pangiam to aid in its mission of providing a safer, faster, more personalized travel experience for all.
Trueface provides computer vision for facial recognition, weapons detection and age verification applications. The company has grown from its founding in 2013 to a top 3 position for biometric accuracy in multiple categories in a recent edition of the Face Recognition Vendor Test (FRVT) from the U.S. National Institute of Standards and Technology (NIST).
The acquisition adds capabilities to Pangiam’s technology which will enable it to create a comprehensive and seamless solution for federal and commercial enterprises, according to the announcement. Trueface founders Shaun Moore and Nezare Chafni will take key leadership positions within Pangiam, as well as continue to lead Trueface.
Trueface also participated in Trade & Travel’s acceleration program, which is a program jointly run by Pangiam and Dcode, to develop solutions with its face biometric technology for the sector.
“We are excited to welcome Trueface to the Pangiam family. Shaun and Nezare are pioneering thought leaders whose advances in computer vision have the potential to drive innovation in identity management, data labeling and biometrics,” says Pangiam CEO Kevin McAleenan.
Pangiam was formed in October 2020 when AE Industrial Partners combined Linkware and PRE, and McAleenan was brought in along with fellow Department of Homeland Security leadership veteran Patrick Flanagan. The company already acquired face biometrics provider veriScan in March. In that acquisition, as in this one, the terms of the deal were not disclosed.
Unlike Pangiam and veriScan, Trueface’s roots lie mostly outside of the airport context, Trueface started out working on consumer smart home security, and gained traction in the government space after working on an ambitious project to reunite victims of Hurricane Dorian in the Bahamas.
“We are thrilled to join the talented team at Pangiam who share our core values to provide equitable benefit to all through computer vision technology. The complimentary technologies that Pangiam has assembled will enable the Trueface team to execute more quickly and fully realize the opportunity of its technologies like facial recognition,” comments Trueface CEO Moore.
Moore wrote a guest post for Biometric Update last March on the impact of the California Consumer Protection Act, and how facial recognition can help maintain people’s rights under it.
Trueface says it has an entrenched position with clients in 13 countries, with applications including touchless access control, body temperature checks, and monitoring for social distancing and PPE compliance.
“Adding Trueface’s technology solutions to Pangiam’s offerings comes at a perfect time, as travel is poised to continue to rebound and passengers want reassurances that the highest health and safety protocols are being followed,” said Kirk Konert, a Partner at AEI. “AEI is pleased to back Pangiam’s second acquisition this year as we continue to support the company’s momentum.”
Trueface recently published an explanation of its efforts to reduce demographic bias in facial recognition.
acquisitions | age verification | biometrics | computer vision | facial recognition | identity management | Pangiam | travel biometrics | Trueface