Microsoft backs startup that helps fight fake online images


Founded in 2015, Truepic offers systems to ensure photos haven’t been manipulated between capture and delivery. — Png vector created by freepik - www.freepik.com

Truepic Inc, which helps companies like banks and insurers fight fraud by verifying images, raised US$26mil (RM108.12mil) in a funding round led by Microsoft Corp’s M12 venture capital arm.

Adobe Inc, Sony Innovation Fund and Hearst Ventures participated in the financing for Truepic, which quadrupled revenue in 2020 from more than 100 enterprise customers. The company, whose clients include Equifax Inc and Ford Motor Co, will use the capital to expand globally and across industries from banking and cars to online commerce.

Founded in 2015, Truepic offers systems to ensure photos haven’t been manipulated between capture and delivery. Companies can integrate its camera into their apps, helping them collect documentation or other visual evidence from users for applications of everything from insurance claims to loan approvals.

“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 James Wu of M12. “Pipelines for assuring the source and integrity of media through each lifecycle phase – from capture to editing and dissemination – will be key.”

Truepic has benefited from the rapid global uptake of fintech during the Covid-19 pandemic, a trend expected to continue even after lockdowns and other restrictions ease. A recent Facebook Inc and Bain & Co report estimated the bulk of venture capital investment in South-East Asia is now going to fintech startups, which increasingly process documents and applications online. – Bloomberg

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Deep fake

   

Next In Tech News

Logistics tech firm Flock Freight turns unicorn after SoftBank-led funding
Alphabet's Wing project will unveil new drone delivery model in Texas
Analysis-Eat or be eaten? Food delivery apps have knives out as pandemic boom fades
India's Future Retail must take part in Amazon dispute arbitration, Singapore panel says
Amazon and others commit to using zero-carbon shipping fuels by 2040
Bourse operator Cboe to buy digital asset exchange ErisX
Exclusive-Renault sees bigger production hit from chip shortage - sources
Verizon beats expectations for postpaid phone subscriber additions
Netflix workers stage walk-out over Chappelle transgender comments
Carbon footprint tracker CoGo seeks $20 million to fund expansion

Others Also Read


Vouchers