TrackLight is an AI-driven fraud detection startup based in El Dorado Hills, co-founded by Greg Loos and Linda Miller. The company aims to revolutionize fraud prevention by leveraging advanced AI technologies to identify and stop fraudulent activities before payments are issued. TrackLight’s platform integrates a comprehensive library of over 3,000 fraud schemes and billions of open-source intelligence records to provide actionable insights for both government and corporate sectors.
The startup recently secured $3 million in seed funding from investors BarronKent and Growth Factory, which will be used to accelerate platform development, sales, and marketing efforts. TrackLight’s innovative approach has shown significant promise, with initial tests indicating a high probability of fraud in 10.4% of government payments reviewed.
TrackLight offers four key components in its platform: a due diligence module, fraud analytics, social network analysis, and case management. This holistic approach aims to prevent fraud at the outset, rather than the traditional “pay and chase” method, making it a game-changer in the industry.
Additionally, the company has launched an AI co-pilot named Ray the Parrot to assist users in navigating the platform and understanding complex fraud schemes. TrackLight has also joined NVIDIA’s Inception Program, receiving a grant to enhance its AI capabilities further.
For more details, you can visit their website TrackLight or read more from sources like GovTech, AIThority, and TMCnet (Insider) (AiThority) (TMCNet) (THE TIMES MAGAZINE).
