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GET A PIECE OF TRULEO

Celebrating Police Professionalism

Truleo is the leading provider of body cam analytics software that promotes police professionalism by automating reporting and coaching for departments nationwide.

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

$749,129.25 Raised

REASONS TO INVEST

PROVEN SUCCESS : Truleo technology has resulted in a 36% drop in use-of-force, 30% decrease in unprofessional officer language, and a 30% drop in civilian non-compliance. *

WORLD CLASS TEAM: CEO is on the board of the FBI National Academy Foundation and CTO was Forbes 30 under 30. Both 2x founders with successful exit of Wall Street A.I. business.

MASSIVE MARKET POTENTIAL: 16,000 Police Departments in the U.S. have body cameras representing 2B in potential revenue, yet we’ve found that as little as 1% of all body camera footage is reviewed.

*source, *source**source***source

THE Pitch


Two experts in voice analytics leave Wall Street to fix policing


Truleo founders Anthony Tassone and Tejas Shastry are early pioneers of using natural language processing (NLP) to create sales and customer service metrics.  Having success and an exit building audio analytics for Wall Street banks, they then decided to focus their efforts on the public safety market.  After the murder of George Floyd, they made it their mission to help repair the civilian-officer relationship by founding Truleo.


Truleo leverages natural language processing to analyze police body camera audio and provides baseball-card like stats to measure police professionalism that can ultimately help coach and improve how police interact with the general public.


*The above features a demonstration of how data is labeled by our system.

THE PROBLEM & OUR SOLUTION


Confidence in our nation's police is at a record low.*



Despite increased use of police body cams, civilian trust has significantly decreased over the years and now sits at 39%, a record low (source).  This is the lowest level of confidence in police training the Post-ABC poll has ever recorded, down 5% from 2021 and 15% from the first survey in 2014. *source


Each year, millions of hours of body camera videos get stored in the cloud, providing enough content and data to be able to enhance and improve police interactions with the public.  


However, we found that as little as 1% of all police body cam footage is reviewed.


Studies have shown that use of body-worn cameras (BWC) work, including an extensive study by the Las Vegas Metropolitan Police Department that showed that:


  • BWC-wearing officers generated significantly fewer complaints and use of force reports relative to control officers without cameras

  • Savings from reduced complaints against officers, and the reduced time required to resolve such complaints, resulted in substantial cost savings for the police department. 


How Truleo Works


We created Truleo to help automate supervision, facilitate coaching, and improve police professionalism.  Our technology works directly with police departments to enhance and leverage valuable BWC footage to help them improve the service and interactions provided to civilians.



  • Critical events are automatically recognized and classified by Truleo
  • Officer language is scored as being professional or unprofessional
  • Features include:
  • Keyword & key phrase recognition and analysis

  • Separation of officer and civilian language

  • Fast video playback

  • Officer risk verification flow

  • Visualization dashboard


*The above features a demonstration of how data is labeled by our system.



Truleo also protects civilian privacy by:

  • Anonymizing civilian audio

  • Focusing only on officer-civilian interactions

  • Auto-redaction of civilian speech, including of personal identifiable information


*The above features a demonstration of how data is labeled by our system.


And The Technology Works


Truleo 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 after a 12 month case study showed significant improvements in civilian-office interactions, including a 36% decrease in Use of Force Events and 12% decrease in civilian non-compliance. Additionally, reporting available to the department, which normally would not have been accessible without Truleo, showed a 30% decrease in unprofessional officer language. This case study showed how Truleo technology and the use of body camera analytics, combined with professional training, led to improved police professionalism and a substantial reduction of use-of-force occurrences. (source)



Truleo has the track record of working with police departments and municipalities to improve civilian-officer interactions, resulting in an increase in positive behavioral changes in both officers and the community members they serve. 

THE MARKET & OUR TRACTION



80% of large police departments wear body cameras

*source


A recent study showed that 88% of the respondents in the U.S. supported proposals requiring police body cameras.  With nearly 18,000 police departments in the country, the total addressable market for Truleo is huge.


Additionally, over $1.5 billion was paid out in police lawsuits last year, much of which was ultimately borne by taxpayers (source). The more that Truleo technology can work to promote police professionalism and increase civilian compliance, the more that police departments could also save on unnecessary lawsuits and complaints.  Truleo’s recent success with the Alameda Police Department is an even stronger example of the positive impact that its technology can have on both civilian-police interactions and a police department’s bottom line.


Truleo charges up to $50 per officer per month, which can mean annual revenue of up to $60,000 per department assuming an average of 100 officers.  With $1.5mm in revenue in just 2022, there is huge potential for growth as Truleo continues to have success in signing new police departments.


*These testimonials may not be representative of the experience of other customers and is not a guarantee of future performance or success.


We’ve also secured a partnership with the FBI National Academy Associates and their alumni to advise on the guidelines and metrics to be used in Truleo technology.  These core components include: formality, politeness, explanation, gratitude, profanity, directed profanity, threats and insults.  We use these components to create a set of risk and professionalism metrics to set a precedent for professionalism across law enforcement.




WHY INVEST


Join Truleo in helping celebrate police professionalism across the US


Our technology can help improve and celebrate police professionalism by analyzing police-civilian interactions at scale.  With over 18,000 potential customers and a growing use of BWCs, Truleo is confident in its ability to help supervise and coach patrol officers to deploy the most professional language; keeping cops, and the community safer.   Truleo already has a strong track record, including:


  • Proven success in double-digital decrease in use of force, unprofessional language, and civilian non-compliance
  • Already available nationwide in 15 police departments
  • Over $1.5mm in 2022 revenue and a partnership with the FBI National Academy Associates 
  • Experienced founding team with previous success implementing artificial intelligence solutions for Wall Street

Truleo is raising capital to expand our customer success, marketing, public relations, and sales teams, in an effort to reach more police departments and improve civilian trust in the police. Help us on our journey to serve the 18,000 police departments across the US.

ABOUT

HEADQUARTERS
1 E Erie St #525
Chicago , IL 60611

Truleo is the leading provider of body cam analytics software that promotes police professionalism by automating reporting and coaching for departments nationwide.

TEAM

Anthony Tassone
Anthony Tassone
Chief Executive Officer, Director, and Co-Founder

Anthony Tassone is the CEO of Truleo and comes from a proud military and law enforcement family. Anthony works closely with FBINAA and Major Cities Chiefs Association. He received his bachelor's degree from DePaul University in Computer Science and lives just outside of Chicago with his wife and 4 kids. Anthony is an avid bow hunter and triathelete, and he regularly speaks about culture, leadership, and entrepreneurship.

Tejas Shastry

Tejas Shastry

Chief Technology Officer & Director

Tejas Shastry is the Chief Technology Officer of Truleo. He grew up in central Illinois and received his bachelor's degree and PhD from Northwestern University. Tejas works closely with NIJ LEAD Scholars and lives in Chicago with his wife and 2 kids. 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. 

TERMS

Truleo
Overview
PRICE PER SHARE
$13.81
DEADLINE
Oct 17, 2023
VALUATION
$30.01M
FUNDING GOAL
$15k - $1.23M
Breakdown
MIN INVESTMENT
$248.58
MAX INVESTMENT
$1,234,986.87
MIN NUMBER OF SHARES OFFERED
1,086
MAX NUMBER OF SHARES OFFERED
89,427
OFFERING TYPE
Equity
ASSET TYPE
Common Stock
SHARES OFFERED
Common Stock

Maximum Number of Shares Offered subject to adjustment for bonus shares

Most Recent Fiscal Year-End

Prior Fiscal Year-End

Total Assets

$1,380,025

$769,808

Cash & Cash Equivalents

$1,169,907

$458,489

Accounts Receivable

$121,480

$240,000

Short-Term Debt

$201,528

$148,931

Long-Term Debt

$0

$0

Revenue & Sales

$1,606,151

$195,250

Costs of Goods Sold

$100,176

$0

Taxes Paid

$0

$0

Net Income

-$2,195,294

-$880,141

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Investment Incentives and Bonuses*

Combo Perk

Invest $1,000 within the first 2 weeks and receive 10% bonus shares.

Invest $5,000 within the first 2 weeks and receive 25% bonus shares.

Volume-Based Perks

Tier 1 Perk — Invest $500+ and Truleo will send FedEx package of Truleo collateral sent to your mayor.

Tier 2 Perk — Invest $5,000+ and Truleo will send a FedEx package of Truleo collateral to your mayor and/or city council + 10% bonus shares.

Loyalty Perk 

As a strategic investor in Truleo, you are eligible for 175% additional bonus shares

*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Truleo, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $13.81 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $1381. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investor's eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.

Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and Loyalty Perk in addition to the aforementioned bonus.

Irregular Use of Proceeds

Example - The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

NEW UPDATES

09.22.23

Truleo Signs New Customer!

Dear Truleo Community,

We are extremely excited to announce that Truleo has signed our first customer in Arizona!  We welcome the Queen Creek Police Department as the latest agency to use the our body camera data analysis platform to help improve law enforcement interactions with the public.

Queen Creek, located in the Phoenix Metropolitan Area, is the first police department in Arizona to use this state-of-the-art technology to help ensure standardization and accountability in its review of police body-worn camera video.

“Our department is committed to providing professional and collaborative service to our community. We strive every day to connect and communicate in a way that fosters trust and transparency.”  - Chief Randy Brice

You can read the full article below:

As a reminder, we are in the final month of our fundraise.

With less than a month to go, now is the time to invest before time runs out.  Make sure you invest now while you still can!

Warmly,

Anthony Tassone


PRESS

Article Image
The Denver Post

Aurora police to use AI to review body camera footage for “the good, the bad and the ugly”

Article Image
WPXI-TV

Castle Shannon police department using new body camera technology that analyzes footage

Article Image
Yahoo! Finance

Anaheim Police to Deploy Body Camera Analytics

Article Image
ABC News 11

Body camera technology may detect bad behavior of officers before situations escalate

ALL UPDATES

Owners bonus
Stack Owner's Bonus & Rewards!

Members get an extra 10% shares in addition to rewards below!

REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Truleo.

$110

Earn 10% Bonus Shares

Earn 10% bonus shares in this investment and all eligible investments for an entire year. If you are not already an Owners bonus holder, you can join now, for $275, billed annually.

$500

Tier 1

Invest $500+ and Truleo will send FedEx package of Truleo collateral sent to your mayor.

$5,000

Tier 2

Invest $5,000+ and Truleo will send a FedEx package of Truleo collateral to your mayor and/or city council + 10% bonus shares.

JOIN THE DISCUSSION

0/2500

AR
Andres Rangel

2 months ago

Hello Anthony. How does Truleo perform in situations involving more than one officer? I'm not referring to crowds, but say an exchange between 2 or 3 officers and a couple of citizens. I'm very excited about your company, by the way. I've already invested and will probably invest some more before the campaign ends.

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YH
Yosef Hertz

2 months ago

Can you update the unaudited 1st half 2023 revenue? Also, what are the revenue sources besides recurring revenue? I see $1.6m in 2022 but a much lower percent of that is recurring (it’s stated below that about 9 months ago the MRR was $45k which is only about $550k ARR)

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YH
Yosef Hertz

2 months ago

Hi, had a few questions. 1. Has there been any further results you can report about the show? 2. I see in the terms “ As a strategic investor in Truleo, you are eligible for 175% additional bonus shares”. What is the definition of a strategic investor? 3. What is the current MRR? 4. Back of the envelope it looks like there are about $800k police officers in the US. If you get 5% penetration that would give you about $15m ARR (depending what the monthly fee is) and 20% would be $60m ARR. Of course you can go international, add service etc, but how do you predict Trueleo can hit a multi-billion valuation? 5. How are you taking advantage of AI? Seems like is a big focus for a company like Truleo. 6. What was the valuation of the $3m institutional round and when was that closed? Thanks!

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CD
Connor Doherty

3 months ago

I presume the new partnerships will be increasing your revenue enough to reduce the cash burn rate? The financial statements look to me like you need more than just $1M. Keep up the good work! Thanks!

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MC
Miguel Costa

4 months ago

Hello, How do you see something like the recent change of "first committed petty crimes" not being pursued by Los Angeles county? Is that positive or negative for Truleo moving forward? Something like this has happened in Philadelphia county where blowing red lights, stop signs, etc.. aren't being pursued by cops. Best regards, Miguel Costa

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EP
Elias Phew

4 months ago

Congratulations on the television deal! I can definitely see Truleo's value-add there. Are there any non-monetary details you can share with us? Length of the contract, structure, to what extent departments are consenting to sharing their footage, etc? Or any other details that you think are pertinent.

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AT
Anthony Tassone

Truleo

4 months ago

I am happy to answer any questions about our collaboration with Gary Vaynerchuck and Eric Wattenberg. We are so excited about a potential television show that can highlight good policing in our country and what that would mean for Truleo's technology and brand. This shopping agreement enables them to put together a show and pitch it to Netflix and other networks. Fingers crossed it gets picked up - either way we should know in the next 90 days. We chose to work with Gary and Eric because we align with their core values - of treating everyone with respect and honesty. Gary is the real deal - he is exactly who he says he is online, a genuinely nice human being. I will be on Gary's podcast in NYC soon - stay tuned!

0

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EP
Elias Phew

4 months ago

Hello Truleo team! Great mission, product, and traction. Your revenue has seen some impressive growth, but so have your costs. Can you help me understand the path to profitability?

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AH
Andre Hightower

5 months ago

Hello! I'm not sure if it's explicitly listed on Truleo's website but as a potential investor, I'd like to know how many police departments and in which cities and states are now contracted with Truleo?

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WC
Wardell Carter

5 months ago

OMG. As a former police officer, I'm excited about Truleo. I currently work as a criminal defense investigator and a criminal justice professor, and I can confirm there's a need for Truleo. Hopefully, Truleo will spearhead the change needed to bridge the gap between law enforcement and the communities officers are hired to protect and serve.

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RAISED
$749,129.25
INVESTORS
278
MIN INVEST
$248.58
VALUATION
$30.01M

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