Trueface raises $3.7M to turn camera data into actionable insights
Today, we have millions of cameras deployed throughout various industries, organizations, and global borders around the world. However, with each of these individual cameras monitoring continuously and collecting vast amounts of data points, what good is it if not actionable or context applied?
Trueface, a US-based leader in computer vision, utilizes machine learning and artificial intelligence to augment camera data into actionable intelligence. This technology is working to make both public and private environments safer and smarter.
Computer vision as a market was valued at $9.28 billion in 2017 and is set to grow towards $48.32 billion by the end of 2023, according to Market Report World. As adoption continues to increase, we’ll see computer visions being applied to several industries, including entertainment, gaming, manufacturing, supply chain, retail, hospitality, healthcare, and financial services.
The company has now raised $3.7 million in seed capital led by Lavrock Ventures with participation from Scout Ventures and Advantage Ventures.
“This round of funding will help us expedite our efforts in making computer vision affordable, effective and trustworthy,” says Shaun Moore, CEO of Trueface.
Computer vision deployments have impacted and provided benefits to enterprises throughout multiple industries. Today, casinos are leveraging age detection technology like that created by Trueface to ensure that those entering the gaming floors are of legal age. As a result of this type of implementation, the pressure on security teams is drastically reduced and allows for focus on more critical tasks.
The United States Air Force sees the technology as a market leader as they have recently partnered with Trueface to enhance base security through smarter access control.
With all client deployments completed on-premise, the Trueface team has designed their technology with data privacy at its core by implementing blurring and fleeting data in appropriate deployments, the personal data of those who have not opted-in is never recorded.
Furthermore, the team is working on efforts to allow their computer vision solutions to become plug and play, opening up the market for even those who are non-technical or don’t have engineering resources to benefit from their solutions.