T Stamp Inc Announces Strategic Investment from Second Century Ventures

Rhea-AI Summary

Trust Stamp (OTCQX: IDAI) has announced a $1.5 million strategic investment from the National Association of Realtors' venture capital fund, Second Century Ventures (SCV), as part of a Regulation D funding round. This investment continues a five-year partnership that began with SCV's participation in Trust Stamp's tech accelerator program. The company has raised $2.5 million thus far from its funding round, intending to enhance sales and marketing initiatives. Joshua Allen, EVP, highlighted SCV’s long-term commitment to innovation in digital identity.

Positive

• Secured $1.5 million investment from SCV, reinforcing long-term partnership.
• Total raised from current funding round reaches $2.5 million, enhancing financial stability.
• Investment aims to strengthen sales and marketing efforts, indicating growth potential.

Negative

• None.

The terms of the transaction have not been disclosed and closing is subject to customary closing conditions.

ATLANTA, GA / ACCESSWIRE / April 7, 2021 / Trust Stamp (OTCQX:IDAI, Euronext Growth: AIID ID), a global provider of AI-powered identity services for use across multiple sectors, announces a fourth strategic investment from National Association of Realtors®' venture capital fund, Second Century Ventures (SCV). This US $1.5 million investment into the Company's Regulation D (Reg D) round of funding is a continuation of the five-year relationship that began with the company's participation in SCV's vertical tech accelerator program, REach®, in 2015.

The participation by SCV in the Reg D offering is deemed to be a Related Party transaction pursuant to rule 5.18 of the Euronext Growth Dublin rules, as Mark Birschbach serves as a non-executive director pursuant to a right of appointment granted to Second Century Ventures LLC. The Directors (excluding Mark Birschbach), having consulted with the Company's Euronext Growth Adviser, confirms the terms of the participation of SCV to be fair and reasonable insofar as Shareholders are concerned.

The Company previously announced the Reg D offering component of a US $5 million round of funding on 24^th March 2021, intended to further strengthen the Company's sales and marketing initiatives and to accelerate productisation of its intellectual property to meet growth in commercial opportunities. Further details in relation to possible participation in the Reg D offering are available on the Company's website: Investors | Trust Stamp.

Since the announcement, Trust Stamp has raised $2.5 million, amounting to half of the total round from two of their earliest investors, FSH Capital and SCV. This comes in addition to over $1.5 million contracted by accredited investors, most of whom participated in the Company's $10 million Series A round of funding one year prior. In response to interest from existing Shareholders, Trust Stamp announced a second tranche of the Reg D offering with a reduced minimum investment of $5,000 and a subscription price of $19.19 on 06 April 2021 to increase accessibility after contracting over $4 million with a $25,000 minimum investment in three weeks.

SCV became Trust Stamp's first corporate partner and investor in 2016 when they participated in the company's Pre-Seed round while funding the launch of the Trust Stamp App for Realtors®. As the first market-proven application of Trust Stamp's innovative technology, the tool serves to verify identity and establish trust at the onset of a business relationship for real estate professionals. SCV later contributed to Trust Stamp's Seed round of funding in 2017 and Series A round of funding in 2020.

Joshua Allen, EVP for Strategic Investments, Mergers and Acquisitions and Executive Director to the Board of Trust Stamp commented: "We are delighted to further strengthen our relationship with SCV, whose involvement over the last five years has enabled us to capitalise on strategic growth opportunities, execute on our ambitions in the rapidly involving digital identity space, and reach a valuation of more than ten times that at the time of their first investment.

Their ongoing support highlights a long-term commitment to innovation in the intersection of financial services, real estate, responsible digitisation, and trust, and they have excelled at providing guided autonomy for Trust Stamp leadership to shape the values and mission of our company."

Enquiries

Trust Stamp Tel: +356 27112981

Gareth Genner, Chief Executive Officer

Nisha Naik, Executive VP of Communications

Davy (Euronext Growth Advisor) Tel: +353 1 679 6363

Fergal Meegan / Barry Murphy

Powerscourt (Financial Public Relations) Tel: +353 87 236 5973

Eavan Gannon Email: Truststamp@powerscourt-group.com

About Trust Stamp

Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organisations with biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.

Located in six countries across North America, Europe and Asia, Trust Stamp trades on the OTCQX Best Market (OTCQX: IDAI) and is listed on Euronext Growth in Dublin (Euronext Growth: AIID ID). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 60 people with flagship customers including Mastercard International and FIS.

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SOURCE: T Stamp Inc

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FAQ

What did Trust Stamp announce on April 7, 2021?

Trust Stamp announced a $1.5 million strategic investment from Second Century Ventures as part of its Regulation D funding round.

How much total funding has Trust Stamp raised so far in 2021?

Trust Stamp has raised $2.5 million from its current funding round.

Who is the investor in Trust Stamp's recent funding announcement?

The recent investor in Trust Stamp's funding announcement is Second Century Ventures.

What is the purpose of the funding received by Trust Stamp?

The funding is aimed at enhancing Trust Stamp's sales and marketing initiatives and accelerating product development.

What is the ticker symbol for Trust Stamp?

The ticker symbol for Trust Stamp is IDAI.