Another $5m for Truthset

San Francisco-based Truthset, whose big data platform offers independent validation of the accuracy of consumer data, has secured $5m in Series A funding, with which to enhance its existing products and launch new ones, as well as for hiring and market expansion.

The company was launched four years ago, offering a proprietary scoring method for the quality of consumer data. 'Truthscores' are numerical scores between 0 and 1 that represent the accuracy of the attributes associated with each data record. Today the platform validates segments against a census-calibrated database of 1.27 billion hashed emails and 147 million households, and is used by brands, agencies, media and measurement companies. Data firms including Experian, TransUnion, Acxiom, data axle and Epsilon also participate in the Data Collective, which taps Truthset's platform to benchmark the accuracy of consumer level and identity data.

The latest funding was led by Data Point Capital, with participation from more than 20 industry insiders. Scott McKinley (pictured), Truthset's CEO and a former Nielsen EVP, comments: 'At a time when the overall financing environment is stressed, support for Truthset from both institutional investors and industry insiders is a true testament to our work and mission. This capital will allow us to extend our leadership position in the market, deepen relationships with existing clients, and push the data validation services to endpoints where data is bought, sold, and transacted to improve the performance and profitability of advertising'.

Web site: www.truthset.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.