Trustd.ai wants to solve safety concerns in the short-term rental industry.
The company uses an artificial intelligence platform to collect and analyze a mix of static and dynamic trust attributes related to a guest and then delivers the result to the partner systems in real time, in the form of a "behavioral footprint."
What is your 30-second pitch to
Safety concerns remain the biggest
problem in the $335 billion sharing economy. Reports show that 11% of
participants filed complaints. In short term rentals (STR), background
screening is a commonly used safety method, however, it does not solve the
problem. Property managers report that unruly guest problems have increased
despite background screening. The undetected root problem is “bad behavior.”
In addition to background
screening, Trustd.ai uniquely
collects and aggregates behavioral data points across
multiple booking systems. This
magnifies multiple guest platforms, utilizing proprietary, innovative AI technology. The resulting trust metric is
delivered to property managers in real-time.
Describe both the business and
technology aspects of your startup.
current STR ecosystem, reports show that guest complaints have skyrocketed
despite background screening. This is not surprising because guests are global,
and problems are local. Local background screening and web scraping will not be
a solution for a global problem.
has changed how we treat guest safety problems by changing the focus from the “bad guest”
to “guests with a bad behavior,” focusing on the behavior rather than the
person. This is
change of mindset in fighting with unruly guests. Since the behavior is a more
global metric attached
to guests, entire guest safety problem reduces to collecting behavioral data
it. Therefore, Trustd.ai has built an independent proprietary AI platform which collects
measurable, objective data across multiple platforms, processes it and
delivers the result
to the partner systems in real time, in the form of behavioral footprint.
is the new currency in sharing economy, and Trustd.ai is the first one bringing
footprint” concept to guest safety in STR, solving the problem from the root cause.
Give us your SWOT (Strengths,
Weaknesses, Opportunities, Threats) analysis of the company.
- Tech Expertise – our CEO and CTO are top global AI experts
- Segment Expertise – our business development manager was a property manager and
leading industry consultant
to acquire robust behavioral data, which requires operational capacity and
Trustd.ai in all sharing economy segments, thus establishing a robust, personal
minimizing physical, emotional and property risk.
may view data collection as a privacy issue, however trustworthy individuals do
not agree and
are willing to share their behavior.
What are the travel pain points
you are trying to alleviate from both the customer and the industry perspective?
emotional and property safety. As the highly interactive, sharing economy
grows, we need
accurate, behavioral data in real-time for both guests and hosts.
So, you've got the product, now
how will you get lots of customers?
We deliver our services via Amazon
Web Services to property managers and insurance companies. Trustd.ai is currently onboarding major property
management systems to access thousands of properties
listed in United States and the European Union. Industry word-of-mouth is the best customer acquisition tool to date -
we have many unsolicited requests, with demand currently exceeding our capacity.
Tell us what process you've gone
through to establish a genuine need for your company and the size of the addressable
Our product vision is to be the
personal safety score in the $335 billion global sharing economy. We feel that
credit and background checks are simply the starting points and by adding
behavior augmented with proprietary AI technology, we can offer the ultimate
Our entry market is short term
rentals in the U.S. and Europe, because the most expensive
shared asset is home property.
How and when will you make
Initially, a Trustd.ai Score is
offered free as a short-period trial to property managers. Since Trustd.ai includes background
checks after the trial period, we charge a minimal fee - saving the property
manager money and giving us needed data.
What are the backgrounds and previous achievements of the founding team?
Trustd.ai was a finalist in the VRMA Battleground in 2021. Murat Sonmez, CEO, is an award-winning Ph.D. with work in AI applications, and he is the
recipient of an NHRC
Fellowship for the U.S. Navy. Alper Halbutogullari, CTO, has a Ph.D., and was recently recognized as one of the top 50 machine
learning and data
science experts to follow for 2023. Joe Mele, chairman, led two successful tech start-ups. John Power, CFO, is an MBA and Mark Chmiel, COO, is an ROI growth expert.
How have you addressed diversity
and inclusion within your business?
our leadership and advisory team are gender, race and ethnically diverse.
What's been the most difficult
part of founding the business so far?
it is the case for all data driven businesses, the data collection has been the
most challenging part
of the business.
Generally, travel startups face
a fairly tough time making an impact - so why are you going to be one of lucky ones?
is not a strategy. We believe we are making a significant impact because we are
solving a true
industry problem - guest and host trust safety. Our innovative, ever-evolving
an added-value industry solution, matched by none.
A year from now, what state do
you think your startup will be in?
believe Trustd.ai is becoming the industry standard for trust safety.
What is your end-game? (Going
public, acquisition, growing and staying private, etc.
endgame is to continue expanding our database across other verticals;
eventually offering a
universal consumer trust score resulting in a safe, value-driven
PhocusWire's Startup Stage