Trust Stamp Hits Reg CF Maximum $5M in Oversubscribed Offering

March 31, 2022

“DealMaker gave us the right tools to own our entire brand and execute our self-hosted raise in-house.”

Nisha Naik
Executive Vice President, Trust Stamp

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Around the world, the protection and privacy-first verification of identity and other sensitive data is a critical component in the infrastructures of many industries, ranging from financial services and regulatory compliance to humanitarian work and healthcare. With a variety of privacy-first tools spanning data protection, secure identity proofing, user-focused biometric solutions and more, Trust Stamp delivers innovative and unmatched identity and trust technology to enhance data privacy and security while also expanding access to financial and societal inclusion.

When it came time to raise capital again in 2021, Trust Stamp turned to a familiar source - the crowd. Having worked closely with the team at DealMaker Reach (formerly Ridge Growth Agency) during their successful Series A financing round in 2020, Trust Stamp knew they had the right team to help share their story with existing and potential investors; what they needed was an evolved technology stack to match. After working with traditional offering “marketplaces” in the past where they gained experience navigating equity crowdfunding offerings, Trust Stamp’s team knew their best path to a full $5M Reg CF financing at this stage in company growth was based on a whitelabelled, self-hosted raise.

“I explored other whitelabel fundraising solutions, but they required significant work on the issuer's end to get a platform up and running. DealMaker was easy to use and recommended by trusted colleagues,” explains Nisha. “It was important for us to get the insights we needed to make the best targeting decisions for our offering, both on a wider audience level and down to each individual investor. DealMaker provided just that.”

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Trust Stamp Raise Powered by DealMaker

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Closed and onboarded 1,000+ new investors
Oversubscribed $5M+ via RegCF
Raised $1M+ in just over a week, spurred by a successful content marketing placement

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Trust Stamp’s team leveraged a variety of DealMaker tools and services to succeed as one of the first $5M Reg CF offerings since SEC regulations increased the offering maximum in March 2021. Notably, the expertise, proven tactics, and data-driven approach of DealMaker Reach allowed Trust Stamp to tap into new audiences and win new investor commitments while simultaneously remarketing to their existing investors from previous rounds.

“DealMaker (Reach) offered more than just the capital fundraising. We could really see what people were interested in based on our marketing, allowing us to target them effectively for our raise,” says Nisha. “The insight we got from DealMaker was also useful in adding another granular layer of understanding to how our audiences are responding to different messaging, which we hope to continue leveraging in marketing efforts beyond those focused on fundraising.”

Supporting Trust Stamp’s investor acquisition marketing posed an additional unique challenge as Trust Stamp’s stock was already trading on OTCQX during the offering. In October, an exclusive placement in popular newsletter Morning Brew combined with optimism in crypto markets may have played a part in driving the share price up 100%+, making the Reg CF offering especially attractive to investors. Over $200,000 was invested within 24 hours of the price jump, anchored by a tried and tested investment checkout flow and branded experience.

“You have greater and more meaningful control over marketing and how you engage with prospective investors with DealMaker” added Nisha.

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Mans face with half a blue face scan, and the other half mans real face, on black background. — Trust Stamp appears in Morning Brew

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‍Making Decisions with Data

Beyond sophisticated in-market tactics, TrustStamp took their offering to the next level using DealMaker Compass to generate “investor ranking” propensity scores for in-progress investors, leveraging machine learning to predict which individuals were most likely to complete their investment. Propensity data allowed Trust Stamp to identify investors who represented a high likelihood of converting and remarket to/contact them within the subscription process.

“We worked with the categories and propensity data provided through DealMaker Compass. We evaluated the number of days it had been since each person signed up to begin the investment process. We were able to use that data to personally contact anyone that created a profile over 30 days prior with a larger desired subscription amount to better gauge their interest in completion and address any barriers in doing so,” says Lance Wilson, Finance Manager at Trust Stamp.

With inclusion and expanding access to financial services at the core of their mission and values, Trust Stamp’s equity crowdfunding campaign had to be done right in order to deliver value to the business while simultaneously growing their community of advocates in an efficient, cost-effective manner. Using DealMaker’s team and technology, TrustStamp was able to do just that - setting a new standard for a successful Reg CF financing before uplisting to the Nasdaq (NASDAQ: IDAI) shortly thereafter.

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‍Interested in learning more about how our capital raising solution can help you grow your business? Get in touch.

Monogram Case Study - DealMaker (Embed)

When VCs said no, Monogram turned to retail investors. That decision powered their rise from startup to publicly traded company—and even helped them raise an additional $13M privately after their Nasdaq debut.

The Challenge: Raising Capital on Their Terms

The Challenge: Raising on Their Terms

Monogram Technologies was founded with a bold vision: to revolutionize orthopedic surgery with a robotic joint replacement system using custom 3D-printed joints. The market for this technology is massive—approximately $19.6 billion, with over 1 million knee replacements per year. But it's a capital-intensive, regulation-heavy space—and traditional VCs weren't biting.

Instead of compromising, co-founders Dr. Doug Unis and Ben Sexson went all-in on a different path: retail capital. Why?

Control and ownership: Not only were they able to raise the capital they needed to grow the business—they did it on their own terms.
Long-term asset: They wanted to build an army of true believers who wanted to see the company succeed and would continue to reinvest over the years.
A value-add network: Raising from retail allowed Monogram to amass a waiting list of thousands of patients eager to participate in future trials.
Aligned incentives: Their mission to improve patient outcomes and build a better future for those struggling with joint pain resonated with retail investors.

The Power of Retail: Monogram's Capital Journey

Start Date	End Date	Type	Platform	Amount Raised	# Investors
3/13/19	3/31/20	A+	SeedInvest	$14,588,668	6,000
11/16/20	1/16/21	A+	StartEngine	$2,965,501	8,000
1/17/21	2/18/22	A+	StartEngine	$23,647,853	14,082
7/15/22	3/16/23	CF	DealMaker	$4,673,000	2,249
3/1/23	4/8/23	A+	Republic	$232,275	120
3/1/23	5/23/23	A+	DealMaker	$15,958,364	5,198
5/18/23	-	Nasdaq listing
7/24	10/24	Unit Offering	DealMaker	$12,990,103	2,745

Monogram Capital Raise Timeline

Monogram's first direct-to-investor raise was a $14.6M round in 2019. Since then, Monogram has raised retail capital six additional times, using Reg A+ as a springboard to a Nasdaq listing in 2023.

Each raise brought in new believers—and more importantly, kept bringing them back. That's the long-term power of retail capital. It's not just one campaign—it's a compounding asset that grows with the business.

$80M+

Raised across seven campaigns

~40,000

Investors championing Monogram's vision

20%

Of each raise came from previous investors

Marketing Excellence

DealMaker Reach provided strategic investor acquisition services, helping Monogram connect with the right audience through high-impact channels.

Premium Publications

Targeted campaigns in premium publications like Morning Brew captured qualified investors

High-Engagement Webinars

Engaging events that generated over $4.3 million in investments

Community Building

Strategic approaches that fostered a loyal shareholder base

Investment Momentum

Innovative approaches that amplified investment momentum

Monogram's Journey to Success

Monogram's journey has been defined by relentless innovation, strategic fundraising, and breakthrough advancements in robotic-assisted joint replacement. From early-stage research to a Nasdaq listing and beyond, Monogram's milestones reflect its evolution into a pioneering force in orthopedic surgery:

Filed its first patent application in 2017
Conducted clinical studies at UCLA and University of Nebraska
Expanded the team with key hires
Attracted a top-tier advisory board to guide clinical innovations
Signed their first distribution partnerships
Made headlines with cutting-edge live demonstrations
Secured 501(k) FDA clearance for the mBôs surgical system

Nasdaq Debut & Beyond

In May 2023, Monogram Orthopaedics successfully listed on the Nasdaq—a significant milestone offering liquidity and growth opportunities for the company.

For most companies, that would be the end of their story in the private markets. But for Monogram, it was just the beginning of a new chapter.

Public perception says you can't raise privately post-IPO. Monogram proved that wrong.

Defying conventional fundraising norms, Monogram raised an additional $13 million from private investors, powered by DealMaker. This move highlighted the power of a dedicated investor community and provided additional strategic growth capital. Meanwhile, strategic digital marketing for the private offering helped boost the public share price—a win-win for the company and its investors, both public and private.

This was retail capital at its best: strategic, repeatable, and aligned.

One vision. Zero compromises.

This wasn't a one-time raise. It was a multi-year capital strategy.

Retail capital helped Monogram:

Go from concept to commercialization without relying on VCs
Retain ownership and control in a high-burn industry
Build a base of loyal shareholders who invested not once, but over and over again
Uplist to the Nasdaq, and still keep raising post-IPO

This is what makes retail capital different. It doesn't expire—it compounds. And DealMaker is built to maximize that long-term value.

Ready to Raise Capital on Your Terms?

Whether you're pre-revenue or post-IPO, DealMaker gives you the infrastructure, support, and strategy to raise from the people who believe in you most.

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