Atlanta, Sept. 01, 2020 (GLOBE NEWSWIRE) -- T Stamp Inc. trading as Trust Stamp, an AI-powered authentication company dual headquartered in Atlanta (US) and Cheltenham (UK), announced the successful completion of a $6.5M equity crowdfunding offering through SeedInvest, a leading investment platform. The five-year-old company, which has over 50 employees worldwide and a pre-money valuation of $25M, completed the raise to fund the continued research and development of its privacy-preserving identity solutions.
Trust Stamp creates transformational technology that accelerates secure societal and financial inclusion through accessible identity solutions that reduce fraud, improve user experience and promote universal access to financial opportunity. Their core technology addresses existing and compounding issues in the biometric services market, including data privacy and security, while also providing a robust solution for identification in areas of the world where a lack of identity infrastructure hinders economic inclusion.
The company’s $6.5M Regulation A round on SeedInvest consisted of individual investments from more than 2,700 accredited and unaccredited investors. Notably, the first $1M was raised in just two days. Trust Stamp rounded out their $10M Series A round with off-platform investments from Mastercard International, FSH Capital, Second Century Ventures, 630 Cybersecurity, the FIS FinTech Accelerator program and the OnRamp Insurance Accelerator program.
In addition to providing Trust Stamp with capital, the high levels of investor engagement with their equity crowdfunding campaign served to increase awareness of their complex technology and validate their unique market fit. Trust Stamp President Andrew Gowasack comments, “2020 has been dotted with milestones in the growth of our team, technology portfolio, company initiatives and commercial use. Trust Stamp’s Series A round has not only provided the financial boost to support this rapid headway while solidifying our existing systems for sustainable growth, but also expanded the reach and potential impact of our mission in the identity space. We are thrilled to welcome each of the 2,778 passionate investors, tech-enthusiasts and identity evangelists to our journey.”
Continuing this traction, Trust Stamp is working towards a direct public listing on the Euronext Growth Market operated by Euronext Dublin, trading under the AIID ticker symbol (AI for ID).
“The Regulation A process provides a clear path to entering the public market for high-growth companies, and Trust Stamp’s success with the alternative route of funding despite economic uncertainty affirms these next steps. Equity crowdfunding has democratized investing to give people the power to support companies they believe in. Fittingly, that vote of confidence in Trust Stamp takes us closer to a future where equitable, privacy-preserving identity solutions democratize access to the connected world,” says Gowasack.
About Trust Stamp
Trust Stamp is an artificial intelligence company focused on providing identity solutions at the intersection of biometrics, privacy, and cybersecurity. The company applies advanced cryptographic techniques, deep neural networks and proprietary AI powered tools to biometric and other identity data to create an Irreversibly Transformed Identity Token (IT2) that can be matched, deduplicated and verified while protecting sensitive identity information. Trust Stamp is currently participating in the DIFC Fintech Hive programme, LORCA Cyber Accelerator and FIS Fintech Accelerator and is a graduate of multiple global programs including QCFintech, 630 Cybersecurity, Plug and Play (Silicon Valley and UAE), NAR REach, Mastercard Startpath, the Georgia Advanced Technology Development Center, the OnRamp Insurance Accelerator, the UK’s GCHQ/NCSC incubator and the Netherlands based Blue Tulip Awards program (first place winner in the finance category).
About SeedInvest
SeedInvest is a leading equity crowdfunding platform that provides individual investors with access to vetted startup investment opportunities. SeedInvest was instrumental in the passage of the 2012 JOBS Act, which changed 80-year-old U.S. securities laws to make it possible for entrepreneurs to raise capital over the Internet. SeedInvest has funded over 200 startups and boasts a rapidly growing network of over 400,000 investors. SeedInvest has had over 46,000 startups apply to raise capital since inception and has accepted ~1% of those companies to feature on the platform. The company was featured on the 2018 Inc. 500 List as the 4th fastest-growing financial services company in America.
Disclaimer
All securities-related activity is conducted by SI Securities, LLC dba SeedInvest, an affiliate of Circle Internet Financial Limited, and a registered broker-dealer, and member FINRA/SIPC, located at 61 Broadway, 17th Floor, New York, NY 10006. This communication is for information purposes only and should not be regarded as a recommendation of, or an offer to sell or as a solicitation of an offer to buy, any financial product. Investments are offered only via definitive transaction documents and any potential investor should read such documents carefully, including all risks, before investing. Startup investments involve a high degree of risk and those investors who cannot hold an investment for the long term (at least 5-7 years) or afford to lose their entire investment should not invest in startups. To learn more about investing in startups and its risks visit www.seedinvest.com/academy.