Truepic, a secure camera technology company, has announced that it has raised $26 Million in Series B funding, led by M12 – Microsoft’s Venture Fund. In addition to M12, Adobe, Sony Innovation Fund by IGV1, Hearst Ventures, and individuals from Stone Point Capital participated in the round. The investment will help expedite the scale of Truepic’s patented camera technology across applications and smartphones globally.
“The truth technology industry is in early innings, and solutions meant to detect manipulated photos and videos will fall flat as bad actors continuously improve the quality of their deception and synthetic media,” said M12 principal James Wu. “Pipelines for assuring the source and integrity of media through each lifecycle phase—from capture to editing and dissemination—will be key. Truepic is best positioned to cover the full value chain as the leader in media provenance.”
“The explosion of deceptive visual media online has bred an incredible amount of distrust among consumers and businesses alike, threatening private enterprise through fraud and brand degradation,” said Jeffrey McGregor, CEO of Truepic. “As the tools to generate entirely synthetic photos and videos continue to become widely available, this distrust will continue to grow, ultimately casting doubt around the authenticity of all digital media. We are thrilled to have a powerhouse group of investors to help us scale our technology and expedite our fight against visual deception and fraud.”
“Adobe and Truepic’s shared commitment to increasing online transparency has resulted in powerful partnerships on the Adobe-led Content Authenticity Initiative and Coalition for Content Provenance and Authenticity (C2PA). Truepic’s technology is critical in our ability to enable digital image provenance, and their unique ability to capture secure media makes their platform unparallel in the market. We’re delighted to support their efforts in tackling this important issue, and are excited to continue our work together to restore trust online,” said Will Allen, Vice President of Product, Adobe.
“Widely adopted by insurers, lenders and financial firms to digitize their workflow and increase their operational efficiency, Truepic takes a deeply integrated approach to image provenance by securing the pipeline from capture to usage,” said Gen Tsuchikawa, Chief Investment Manager for Sony Innovation Fund (SIF) and CEO and Chief Investment Officer for Innovation Growth Ventures (IGV). “Our investment in Truepic further builds upon SIF’s portfolio of authentication, identification and trust-enabling start-ups, and we look forward to the company further growing across industry verticals and geographies.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.