TruStory raises a seed round led by True Ventures and other notable investors and Angels

Preethi Kasireddy
3 min readMay 23, 2018

I’m delighted to share that my company, TruStory, has raised a $3M seed round led by True Ventures with participation from Pantera Capital, Kindred Ventures, Homebrew, Coinbase Ventures, Wonder Ventures, Abstract Ventures, Ausum Ventures, Dream Machine (Alexia Tsotsis), and others. A number of stellar angels also joined the round, including Fred Ehrsam, David King, Scott Belsky, Josh Elman, Alok Vasudev, Jessica Verrilli, and other great supporters. It’s an honor to have each of these partners on board.

This funding will help us build a world-class engineering, design, and community development team to work towards our mission.

What is TruStory?

TruStory is a platform for users to discover and validate claims that people make online, whether in a blog post, whitepaper, website, or social media post.

Our mission is to bring authenticity into the digital and decentralized world.

Unlike in today’s web where the onus for fact-checking is on the reader, in TruStory, every “story” or claim goes through a unique validation process that leverages a distributed network of participants with robust economic and social incentives to surface the truth.

Our goal at TruStory is to create a more trustworthy reality and make community-driven validation tools readily accessible to anyone.

Why does TruStory need to exist?

In my personal experience as a developer in the blockchain space (first at Coinbase and then through various community projects), I’ve been haunted by the proliferation of low-quality information, rampant inauthenticity, and sheer disinformation. We regularly see people making outrageously false claims about blockchain projects — and going on to raise millions of dollars off of these lies. I’ve seen my own friends and family deceived and hard-working developers swept under the rug, while the marketing-savvy technocrats gain money and credibility.

Zooming out of just the crypto world, I believe we are moving toward an increasingly decentralized world, which also means upholding the veracity of all kinds of information has become exponentially more difficult. There are no longer universally trusted central parties to keep tabs on what’s real. We now live in a world in which people and entities can make false claims (especially in crypto) and profit off of them because no unified resource exists to validate these claims.

I know there has to be a better way. Simply put, I believe the truth is worth fighting for.

That’s why I started TruStory. TruStory is a platform that uses the collective knowledge of the crowd, combined with the right incentives and disincentives, to validate and curate a better reality — starting with the blockchain space.

Stay tuned!

I’m excited to share more about TruStory in future posts. Stay tuned!

We’re hiring

I’m looking for ethical, ambitious, and passionate engineers and operators to join the team. If you’re excited about what we’re building at TruStory and want to embark on our mission to build a more authentic world, apply now!

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Preethi Kasireddy

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