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Home COUNTRY SCANDINAVIA&BALTICS

Lithuanian startup raises $500K pre-seed to expand digital identity solutions

Arctic Startupby Arctic Startup
October 15, 2024
Reading Time: 5 mins read
in SCANDINAVIA&BALTICS, VENTURE CAPITAL
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WhiteBridge, based in Vilnius, has raised $500,000 in pre-seed funding from FIRSTPICK, Scalewolf, First Degree, and Nectolabs. The company offers an AI-powered platform that helps users manage their online reputation by gathering and verifying data from multiple public sources. With this funding, WhiteBridge aims to expand its team, improve its AI technology, and increase its market presence as it seeks to enhance its platform’s features and reach.

Managing one’s online reputation has evolved from a niche concern to a critical need, especially for high-profile individuals such as C-level executives and other public figures. The online reputation management service market, valued at $230 billion in 2023, is expected to almost double to $440 billion by 2030, underscoring the growing demand for solutions that empower people to control their digital identities. Despite regulations like GDPR and CCPA, even high-profile individuals frequently struggle to safeguard their personal data online. As the volume of online information continues to grow, the need for more comprehensive and user-friendly solutions is becoming ever more pressing.

WhiteBridge addresses the challenges of scattered information and social media history by transforming these into a coherent narrative of an individual’s digital identity. Using advanced AI, the platform aggregates, verifies, and structures data from over 30+ public and third-party data APIs, such as professional networks, social media, and public records. These comprehensive reports provide deep insights into a person’s professional and educational background, interactions, and behavioral tendencies, as well as any data breaches associated with them. This enables users to better understand and control their public digital footprint, making more informed decisions about their online presence.

Paulius Taraškevičius, CEO and co-founder of WhiteBridge, said: “Most people are unaware of the sheer volume of highly personal information that is circulating online, and even less understand how this data can impact their personal and professional lives. With WhiteBridge, we aim to bring clarity and control to this digital chaos, at the level of the individual. Our platform equips individuals and businesses with the insights they need to protect and manage their online presence, ensuring they remain ahead in a world increasingly driven by online data.”


Dmitrij Sosunov, Partner at Firstpick, said: “The market for online reputation management remains largely untapped. Over the years, vast amounts of data have been collected about individuals from diverse sources, including social media and traditional media. WhiteBridge’s AI-driven approach transforms this data into actionable insights, serving a broad spectrum of potential clients while maintaining the highest standards of privacy and transparency. The team’s exceptional blend of experience—comprising serial founders, investors, and seasoned operators—made our decision to invest an easy one.”

WhiteBridge’s AI-powered digital identity reports offer features like real-time validation and background analysis to ensure the information is accurate and up to date. The platform consolidates data from multiple sources and takes a transparency-first approach, allowing users to trace the origins of all collected data. Additional features include reverse face search to find all of the user’s public photos online, as well as real-time alerts for new information on the user appearing online. Although WhiteBridge focuses on helping individuals manage their digital presence, it can also be used by recruiters, sales teams, and compliance officers who rely on these insights for decision-making.

The funding will be used to accelerate WhiteBridge’s expansion, focusing on increasing brand awareness, hiring software engineers for R&D, and ensuring legal compliance. WhiteBridge plans to scale its operations, expanding its team and refining its AI technology. The company is committed to delivering cutting-edge solutions that empower individuals and businesses to take control of their digital footprint.

Click to read more funding news.

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Read the orginal article: https://arcticstartup.com/whitebridge-raises-500k/

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