TransCrypts Secures $15M Seed Funding from Pantera to Scale Decentralized Identity Solutions

TransCrypts, a blockchain startup focused on empowering individuals to control and share verified credentials, has raised $15 million in a seed funding round led by Pantera Capital. Other investors include Lightspeed Faction, Alpha Edison, Motley Fool Ventures, and returning backers such as Mark Cuban and Protocol Labs.

The San Francisco-based company plans to use the funds to broaden its credential verification system beyond employment, extending into healthcare and education. The platform allows users to collect, encrypt, and share records with employers, background checkers, and other authorized parties, storing sensitive data off-chain while keeping hashes on-chain for verifiable authenticity.

Founder and CEO Zain Zaidi highlighted the company’s focus on “self-sovereign identity,” enabling users to control their data independently of universities, employers, or government agencies. The company’s push into regulated sectors comes after securing HIPAA certification, opening doors to verified medical records sharing and academic credential verification.

TransCrypts already serves 4 million users and over 450 enterprise clients across healthcare and staffing. The startup says the new capital will accelerate growth, enhance real-time credential verification tools, and strengthen its mission to protect users against identity fraud and deepfake scams—risks that have surged dramatically in recent years.

Zaidi recounted that the company’s origin stemmed from a personal bureaucratic mishap that nearly cost him a graduate school opportunity, underscoring the importance of secure, portable identity verification. With this funding, TransCrypts aims to make blockchain-based identity systems a practical safeguard in an increasingly digital and fraud-prone world.