Trust Science® Raises $4 million in growth funding
Trust Science will build artificial intelligence platform for developing alternative credit scores
SEATTLE – January 17, 2018 – Trust Science® today announced it has raised $4 million in growth funding from a variety of private investors. The company is aggressively expanding the development of its artificial intelligence and machine learning platform, initially for the North American market.
Founded by serial entrepreneurs Evan and Shane Chrapko, Trust Science® is building on its base of over 20 patents by applying AI/ML to identity resolution, social connectivity and assessing trustworthiness to create the Six°Score, an alternative scoring option for lenders.
“There are tens of millions of deserving consumers in North America who are either being denied loans or, are being overcharged for credit because they have ‘thin files’, irrelevant negative history or no credit scores. In addition, developments like blockchain are rapidly disrupting business models related to lending and determining creditworthiness,“ said Evan Chrapko, founder and CEO of Trust Science. “We are thrilled to have a group of investors who are savvy early-movers and have proven success in building and growing market leading technology companies.”
Trust Science also announces additions to its senior management team and advisory board:
- Tony McGivern - Tony is the former CIO of FICO and joins the Trust Science advisory board. Prior to its acquisition by FICO, Tony served as both the CEO and CTO of Adeptra.
- Ford Goodman, Office of the CEO - Ford is a veteran technology executive who most recently served as Chief Revenue Officer at Gracenote which was acquired by Nielsen. Ford will be involved with the strategic planning and front-office activities at Trust Science.
- Chris Matichuk, CTO - Chris leads Trust Science’s product strategy, engineering, and R&D efforts. Prior to joining Trust Science, Chris helped lead the engineering team at VoiceBox and was responsible for the incubation and product roadmap for Netflix as it was first creating its streaming service.
- Dr. Joseph Barr - Joe joins the Trust Science advisory board. He is a mathematician and data scientist and helps enterprises develop their machine learning and econometrics core competencies. He was the Chief Data Scientist of ID Analytics and currently advises Global 50-class financial institutions.
- Jeremy Mitchell - Jeremy is the Vice President, US Consumer Marketing and Banking & Lending Analytics at Equifax and joins the Trust Science advisory board.
- Chris Grnak, EVP, Financial Services - Chris leads the business development and go to market activities for the financial services market segment. He joins Trust Science from CIBC and Dollar Financial Group where he held executive financial and operations roles.
- Dr. Damien Iggiotti, VP, Analytics, Lending - Damien is responsible for the ongoing development of Trust Science risk models and leading the analytics team serving lending customers. Damien held executive positions at a number of North American banks where he built credit and risk analytics models prior to joining Trust Science.
- Joe Quarin - Joe is President & CEO of Q5 capital and joins the Trust Science advisory board. He is the former CEO of a multi-billion dollar NYSE-traded corporation.
About Trust Science®
Based in Seattle with offices in Houston, Toronto, Vancouver and Edmonton, Trust Science® harvests alternative data to deliver decision support about individuals. With over 20 patents in six countries, the company collects and analyzes publicly available digital information such as social media, news sources, court data, web search, e-commerce transactions and more. Using artificial intelligence and machine learning, the company determines trustworthiness by generating proprietary social graphs and its Six°Score. For more information, visit www.TrustScience.com.