TruStory Kasireddy

TruStory, founded by Indian American Preethi Kasireddy, just raised $3 million in seed funding. (LinkedIn photo)

A company founded by Indian American Preethi Kasireddy that claims it can help guide users in their research of companies on the verge of making initial coin offerings has just received $3 million in seed funding.

According to a TechCrunch report, the Los Angeles-based startup allows users to research and validate claims that people make online, whether in a blog post, white paper, website or social media post.

The mission of TruStory is to “bring authenticity back into the digital and decentralized world,” according to the site.

Though regulators around the world are cracking down on cryptocurrency fraud, the number of ICOs has skyrocketed and the funds raised through the mechanism are increasing, TechCrunch reported.

Separating the legitimate companies from the larger group is time consuming and daunting, and that’s where Kasireddy’s TruStory comes in.

After landing $250,000 in angel funding in December, TruStory netted $3 million in seed funding May 23 led by True Ventures, the report said.

All are betting on Kasireddy, a University of Southern California graduate who has gone on to work for Goldman Sachs as a technology, media and telecom investment banking analyst; Andreessen Horowitz as a partner; Socket.io and Coinbase as a software engineer; and self-employed as a blockchain and smart contract engineer.

It was at Coinbase where Kasireddy said that she architected and implemented the front-end interfaces and APIs required for the integration of Ethereum onto the Coinbase brokerage platform, among other things, the report said.

“I just started to teach myself how to write code that runs on Ethereum. I was contributing to different blockchain projects and just listening, and learning, and observing,” she said in the report.

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