TransCrypts, a blockchain startup enabling individuals to own and securely share verified credentials, has closed a $15 million seed round led by Pantera Capital. Other participants included Lightspeed Faction, Alpha Edison, Motley Fool Ventures, and returning investors such as Mark Cuban and Protocol Labs.
The San Francisco-based company plans to deploy the funding to expand its credential verification platform from employment records into healthcare and education. Users can collect, encrypt, and share records directly with authorized parties, while hashes stored on-chain ensure verifiable authenticity without exposing personal data.
Founder and CEO Zain Zaidi emphasized the vision of “self-sovereign identity,” where individuals control their data without relying on employers, educational institutions, or government bodies. With HIPAA certification secured, TransCrypts now aims to facilitate verified medical histories and academic credentials, streamlining processes for patients, students, and employers alike.
The platform already serves over 4 million users and 450 enterprise clients. The capital infusion will bolster real-time credential verification tools and support expansion into regulated sectors, while addressing rising risks like identity theft and deepfake scams, which have surged dramatically in recent years.
Zaidi cited a personal experience—misplaced transcripts that almost cost him a graduate school opportunity—as the inspiration behind TransCrypts, reinforcing the need for reliable, portable identity verification. With this funding, the startup is positioning itself as a leading solution for secure, decentralized identity in a rapidly digitalizing world.
