TransCrypts, a blockchain platform transforming how digital credentials are verified and shared, has raised $15 million in seed funding. Pantera Capital led the round, joined by Lightspeed Faction, Alpha Edison, Motley Fool Ventures, California Innovation Fund, and angel investor Tomer London. Existing backers Mark Cuban, Techstars, Alumni Ventures, Protocol Labs, Apertu Capital, Informed Ventures, Asymmetry Ventures, and The Atland Fund also participated.
The funding arrives as concerns about AI-generated fraud and deepfakes intensify. TransCrypts is positioning itself as a solution that returns control of personal data to individuals rather than centralized institutions.
Online trust faces unprecedented threats from AI manipulation. Deepfakes and fraudulent credentials are becoming harder to detect, creating risks for employers, landlords, and background screening services. TransCrypts addresses this by enabling individuals to securely own and share verified credentials through blockchain technology.
"Trust online is under attack with AI fraud and deepfakes. TransCrypts puts control back in people's hands, making verification faster, smarter, and more secure. I'm excited to be an investor," said Mark Cuban.
The platform focuses on what it calls self-sovereign identity. Users maintain complete ownership of their employment, health, and educational records instead of relying on third parties to store and verify this information.
TransCrypts will use the new capital to expand beyond employment credentials into health and educational records. The company recently earned HIPAA certification, allowing consumers to control health data that traditionally remains locked with healthcare providers.
The team plans to more than double in size over the next year. TransCrypts operates from co-headquarters in San Francisco and Toronto, with the Canadian office opening recently to support the company's growth trajectory.
Founded in 2020, TransCrypts has experienced rapid adoption since launching its platform in 2021. The company has grown 15-fold in just 24 months and now serves more than 450 enterprise customers alongside 4 million individual users.
Multiple Fortune 100 and Fortune 500 companies rely on the platform. The Fortune 100 client base has doubled in 2025 alone. Employers, landlords, and background check agencies are turning to TransCrypts for fast, privacy-compliant verification that meets regulatory requirements while giving users control of their data.
"Our goal is simple: to give people 100% control of their identity," said Zain Zaidi, CEO and Founder of TransCrypts. "Whether it's employment, health, or educational records, we're making verification secure, efficient, and fraud-resistant."
The company uses blockchain and cryptographic technologies to automate compliance processes. This approach aims to eliminate the delays and privacy concerns associated with traditional verification methods, which often require sharing sensitive information with multiple parties.
Pantera Capital sees TransCrypts as addressing a pressing need in an era defined by data manipulation and AI-generated content. The ability to verify credentials without compromising privacy or security represents a significant shift in how identity systems function.
"TransCrypts addresses one of the most pressing challenges of our time: trust in an era of AI-driven fraud and data manipulation. TransCrypts is giving individuals full control of their credentials, ensuring privacy, security, and compliance at a scale that only blockchains can handle. We're proud to support Zain and Ali as they set the standard for the future of identity verification," said Franklin Bi, General Partner at Pantera Capital.
The investor roster includes prominent names from both traditional venture capital and the crypto space. This diverse backing reflects confidence in TransCrypts' approach to solving identity verification challenges that span multiple industries.
