Improving Police Professionalism
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Truleo is the leading provider of body cam analytics software that promotes police professionalism by automating reporting and coaching for departments nationwide.Truleo is a police body camera analytics company that automates supervision, facilitates coaching, and promotes police professionalism. Truleo automatically processes 100% of a department's videos and creates “baseball card stats” for cops. It analyzes officers’ language and rewards high levels of professionalism. It sells annual subscriptions and charges $20 - $50 per officer per month to access, structure, and analyze those videos. Departments pay Truleo an annual licensing fee to transcribe and analyze all of their body camera videos and provide access to curated results. The company is targeting the 18,000+ U.S. police departments that have purchased body cameras. Truleo has a large patent portfolio and a sticky network of users. The company believes that there are no other direct competitors. Other body cam analytics companies may enter the market. Truleo now has 15 police departments currently using Truleo and expects to have 30–40 departments as clients by the end of the year. The company has partnered with the Alameda Police Department to implement Truleo technology to bring analytics and reporting to its thousands of hours of BWC footage. The results showed a 36% decrease in Use of Force events, a 12% decrease in civilian non-compliance and a 30% decrease in unprofessional officer language. The company has also secured partnerships with the FBI National Academy Associates and their alumni to advise on the guidelines and metrics to be used in Truleo technology. Revenue for fiscal year 2021 was $195k, compared to $1.61M in fiscal year 2022. The gross margin was 93% in 2022. The company had only one client in Q4 2021, which increased to 15 in 2022. The aim is to generate $2.5M in 2023. It has a net loss of $2.19M in 2022 compared to $880k in 2021. It has proven its product market fit.
The company plans to use the proceeds for R&D, company employment, working capital, and platform fees.
The management is very skilled and experienced.Anthony Tassone, CEO, Director, and Co-FounderAnthony Tassone is the CEO of Truleo and comes from a proud military and law enforcement family. Anthony works closely with the FBINAA and the Major Cities Chiefs Association. He received his bachelor's degree from DePaul University in Computer Science. He is a second-time founder and works full-time at Truleo.Tejas Shastry, CTO, Director, and Co-Founder Tejas Shastry is the Chief Technology Officer of Truleo. He grew up in central Illinois and received his bachelor's degree and Ph.D. from Northwestern University. Tejas works closely with NIJ LEAD Scholars. He is an avid data scientist and technologist who has authored over 30 peer-reviewed research publications and 10 patents, received 2 fellowships, and has been previously recognized on Forbes 30 under 30. He is a second-time founder and works full-time at Truleo.
Truleo raised $3M at $15M pre-money from Arnold Ventures in September 2022. The company has valued itself at $30M pre-money. The company looks slightly overvalued at its current stage.
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