Trustpage in Detroit, which operates a centralized hub that seeks to transform how companies build trust in software, today announced a $5 million seed funding round led by Detroit Venture Partners, Bonfire Ventures, and Ludlow Ventures.
Trustpage’s AI-powered Trust Centers are used by software companies to manage, share, and collaborate with customers on their complete security posture. Key investments were also made by Entrée Capital, Basement Fund, and GTMfund.
“Trust in software is broken,” says Chase Lee, CEO and founder at Trustpage. “Trustpage transforms the often-painful process of security reviews into a fast and easy collaboration. By empowering companies to easily earn and build the trust of their customers, we help transform security into a competitive advantage and maximize revenue opportunities.”
The company estimates cybercrime will cost the world more than $6 trillion in 2021, with annual global costs expected to grow 15 percent year-over-year. The software powering the world — especially as the digital landscape grows due to the pandemic — is one of the biggest targets for this crime.
The company’s Trust Centers are an end-to-end solution that acts as a single pane of glass over the company’s stack of security features and policies, giving customers and prospects straightforward insights into the measures keeping them and their customers safe.
The solutions equip salespeople and teams with the key insights needed to lead conversations about security with confidence throughout an entire sales process while also freeing engineers and security leaders for higher priority technical tasks.
The solution uses AI to assist users in completing security reviews using natural language processing that understands the language of trust while allowing software buyers and sellers to collaboratively share information via secure channels in accessible formats that enable teams to gain visibility into who is accessing their documents. It also offers branded design domain that can be integrated into a company’s CRM platform.
“Trustpage takes a product-led approach to security that helps companies turn what is often considered a liability into a competitive advantage,” says Brett Queener, partner at Bonfire Ventures. “Software companies must earn the trust of their customers to scale, and Trustpage eliminates outdated processes through AI-powered collaboration that makes security reviews faster and easier for everyone.”
Trustpage will use this funding to recruit and hire top talent, invest in developing innovative new features like AI-assisted reviews, and expand its services with a focus on software buyers and auditors. More than 5,300 companies have been mapped by its AI-powered security scanner and added to Trustpage’s network, and 300 companies have claimed their profiles.