Veritone Achieves “Awardable” Status on DoD’s Tradewinds Solutions Marketplace with Three AI Solutions

Rhea-AI Summary

Veritone (NASDAQ: VERI) has achieved 'Awardable' status on the Department of Defense's Tradewinds Solutions Marketplace with three AI solutions: Illuminate, Redact, and Track. These applications are part of Veritone's Intelligent Digital Evidence Management System (iDEMS), built on the aiWARE platform.

The solutions include: Illuminate, an AI-powered investigative tool for searching and analyzing video, audio, and text data; Redact, which automates sensitive information redaction in multimedia evidence; and Track, a digital video analytics tool for tracking individuals and vehicles across multiple sources without using personally identifiable information.

The Tradewinds Marketplace is DoD's premier platform for AI/ML procurement. This achievement builds upon Veritone's existing relationships with federal agencies, including previous agreements with the Department of Defense and Department of Justice.

Positive

• Achieved 'Awardable' status on DoD's Tradewinds Solutions Marketplace
• Expanded access to federal procurement opportunities through DoD's premier AI marketplace
• Builds upon existing federal contracts with DoD and Department of Justice

Negative

• None.

Insights

Government Contracts & Technology Analyst

The addition of Veritone's AI solutions to the DoD's Tradewinds Marketplace represents a strategic positioning in the lucrative federal AI market. This achievement is particularly significant as government agencies accelerate their AI adoption, with the DoD's AI spending projected to reach billions annually.

The 'Awardable' status provides several competitive advantages:

• Streamlined procurement process that typically reduces sales cycles from 12-18 months to 3-6 months
• Direct access to DoD's AI procurement pipeline, enabling faster contract execution
• FedRAMP compliance and multi-cloud deployment options (AWS and Azure) that address strict security requirements

The inclusion of three distinct solutions - Illuminate, Redact, and Track - creates multiple revenue streams through the platform. These applications address critical needs in digital evidence management and investigation, potentially leading to recurring subscription revenue from various defense and intelligence agencies.

This marketplace presence complements Veritone's existing federal contracts, creating a robust foundation for government sector growth. The combination of Test and Evaluation Services BPA with the DoD, Sole-Contractor BPA with the DoJ, and GSA Schedule 70 contract through Carahsoft positions Veritone as a comprehensive AI solutions provider across federal agencies.

However, key considerations include:

• Intense competition from larger defense contractors and tech giants in the federal AI space
• The need for continuous innovation to maintain technological advantages
• Resource requirements for maintaining FedRAMP compliance and security standards

Veritone’s AI solutions available on the DoD’s premiere AI procurement marketplace, accelerating access to investigative tools and supporting compliance with freedom of information requirements

DENVER--(BUSINESS WIRE)-- Veritone, Inc. (NASDAQ: VERI), a leader in building human-centered enterprise AI solutions, today announced that it has achieved “Awardable” status through the Chief Digital and Artificial Intelligence Office’s (CDAO) Tradewinds Solutions Marketplace. Veritone’s Illuminate, Redact and Track applications have been added to the Tradewinds Marketplace.

The Tradewinds Solutions Marketplace is the premiere offering of Tradewinds, the Department of Defense’s suite of tools and services designed to accelerate the procurement and adoption of Artificial Intelligence (AI)/Machine Learning (ML), data and analytics capabilities from organizations including Veritone.

Veritone’s solutions now available on Tradewinds include:

Illuminate: an AI-powered investigative and analytics tool that helps organizations search, analyze and manage vast amounts of video, audio and text-based data. It aids legal, compliance and investigative teams that need to quickly process structured and unstructured data for litigation, regulatory reviews and internal investigations.

Redact: an AI-powered redaction solution that automates the redaction of sensitive information within audio, video and image-based evidence. It is widely used by law enforcement, legal teams, media organizations and government agencies to comply with privacy laws and public records requests (FOIA).

Track: an AI-powered digital video analytics tool that enables tracking of individuals and vehicles across multiple video sources at scale, offering speed and accuracy in investigative efforts without relying on personally identifiable information (PII).

"Achieving ‘Awardable’ status on the Tradewinds Solutions Marketplace is a testament to Veritone’s commitment to delivering AI solutions that enhance national security, investigative workflows and intelligence operations," said Ryan Steelberg, chairman, president and chief executive officer, Veritone. "By streamlining access to our technology, we are empowering defense and law enforcement agencies with the tools they need to rapidly analyze, manage and act on critical data with speed, accuracy and security."

Veritone Illuminate, Redact and Track are part of Veritone’s Intelligent Digital Evidence Management System (iDEMS), a comprehensive purpose-built applications suite for the public sector that leverages AI to streamline the management and analysis of digital evidence, providing customers with powerful investigatory tools to handle vast amounts of data quickly and accurately. iDEMS is built on Veritone’s aiWARE™ platform, which is deployed in FedRAMP on AWS and Microsoft Azure and can be leveraged by DoD customers within their public cloud tenant or in their secure data center. aiWARE is an AI operating system that intelligently and securely orchestrates hundreds of best-of-breed cognitive and generative models in a single solution to transform extensive volumes of unstructured data, including video and audio, into actionable insights.

The agreement marks another milestone in Veritone’s expanding role within U.S. federal civilian and defense agencies, building upon the Company’s previously announced Test and Evaluation Services Blanket Purchase Agreement with the DoD, Sole-Contractor Blanket Purchase Agreement with the Department of Justice and Carahsoft’s GSA IT Schedule 70 contract.

To learn more about Veritone’s Public Sector solutions, visit: https://www.veritone.com/solutions/public-sector/

About Veritone

Veritone (NASDAQ: VERI) builds human-centered enterprise AI solutions. Serving customers in the media, entertainment, public sector and talent acquisition industries, Veritone’s software and services empower individuals at the world’s largest and most recognizable brands to run more efficiently, accelerate decision making and increase profitability. Veritone’s leading enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models, transforming data sources into actionable intelligence. By blending human expertise with AI technology, Veritone advances human potential to help organizations solve problems and achieve more than ever before, enhancing lives everywhere. To learn more, visit Veritone.com.

Safe Harbor Statement

This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250220954236/en/

Media Contact:

Valerie Christopherson or Lora Metzner

Global Results Comms (GRC)

+1 949 608 0276

Veritone@globalresultspr.com

Sarah Rich

Veritone

srich@veritone.com

Source: Veritone, Inc.

FAQ

What AI solutions did Veritone (VERI) get approved for the DoD Tradewinds Marketplace?

Veritone received 'Awardable' status for three AI solutions: Illuminate (investigative and analytics tool), Redact (automated redaction solution), and Track (digital video analytics tool).

How does Veritone's Illuminate AI solution benefit DoD operations?

Illuminate helps organizations search, analyze and manage large amounts of video, audio and text-based data for litigation, regulatory reviews and internal investigations.

What is the significance of Veritone's Tradewinds Marketplace approval for investors?

The approval expands Veritone's access to DoD procurement opportunities and strengthens its position in the federal sector, building upon existing contracts with DoD and Department of Justice.

What security compliance standards does Veritone's aiWARE platform meet for DoD use?

Veritone's aiWARE platform is deployed in FedRAMP on AWS and Microsoft Azure and can be used within DoD's public cloud tenant or secure data center.

How does Veritone's Track AI solution maintain privacy in surveillance operations?

Track enables tracking of individuals and vehicles across multiple video sources without relying on personally identifiable information (PII), ensuring privacy compliance.