BAY AREA TECH WIRE: Los Altos-Based Trooly Raises $10M, Launches ‘Instant Trust’ Ratings

Published June 21, 2016 via Bay Area Tech Wire

========================================
BAY AREA TECH WIRE — June 21, 2016
========================================

o Los Altos-Based Trooly Raises $10M, Launches `Instant Trust’ Ratings
o San Jose-Based Fenox VC to Launch $1 Million Startup World Cup
o Survey: More Bay Area Tech Execs Planning to Expand IT Teams
o Morgan Hill-Based Paramit Acquires San Jose’s Lathrop Engineering
o S.F.-Based Cloudwords Names Richard Harpham as President and CEO
o Briefly Noted: Five9, Mithril Capital Management — Spaceflight Industries
_____________________________________________
o Los Altos-Based Trooly Raises $10M, Launches `Instant Trust’ Ratings

Los Altos, Calif. — Trooly, a Los Altos-based developer of machine learning technology, said it has raised $10 million in funding and launched a new service designed to help businesses verify, screen and predict trustworthy relationships and interactions. Bain Capital Ventures and Milliways Ventures participated in the company’s first round, after Milliways provided an earlier seed investment. The funds follow two years of development on the company’s Instant Trust ratings service, which mines real-time data to evaluate identity, personality and behavior against established academic and commercial models. Co-founder and CEO Savi Baveja said the software-delivered service “uses machine learning to deliver rich insight quickly based on billions of public and permissible data sources — moving well beyond old-school background checks, credit scores and risk management tools.” Trooly said the technology is aimed at clients such as peer-to-peer marketplaces and communities looking to screen potential users, in addition to financial institutions and marketers and recruiters.
https://troo.ly/
https://medium.com/trooly-buzz/instanttrust-4ba6ae79c73a#.kv60njfes
_____________________________________________