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    VERI   US92347M1009

VERITONE, INC.

(VERI)
  Report
Delayed Nasdaq  -  04:00 2022-09-29 pm EDT
5.850 USD   -0.85%
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Veritone Redact Now Integrated with AINS FOIAXpress Platform to Help Federal Agencies Reduce Time, Money, and Resources Spent on Public Records Requests and the Redaction of Sensitive Information

08/03/2022 | 07:04am EDT

Veritone Redact-enhanced FOIAXpress platform helps governments expedite video and audio file requests while adhering to Freedom of Information Act (FOIA) privacy laws

Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, and AINS, LLC, the leader in low-code, specialized case management software for government, today announced a strategic partnership to enable public institutions to automate the redaction of sensitive information within audio, video, and image-based records and increase transparency by expediting the release of public records requests.

As part of this collaborative partnership, AINS is integrating the aiWARE-powered Veritone Redact application into its FOIAXpress solution for Freedom of Information Act (FOIA) request and management. This new-to-industry solution will enhance the automation of the public records request workflow—from request intake and the redaction of personally identifiable information (PII) to the release of the final redacted audio and video back to the requestor—saving both government agencies and the requesting professionals time, money and resources.

“The Federal Government processes more than 800,000 FOIA requests annually, many of which now draw on significant volumes of audio and video data collected and stored by government agencies,” said Howard Langsam, chief executive officer, AINS. “Prior to using our solution, multimedia redaction processes were slow and costly. Now, when files are requested, FOIAXpress customers can redact sensitive information quickly and cost-effectively. With the integration of Veritone Redact into our platform, AINS is poised to help our government customers—who are present across all 15 federal executive departments—solve the challenges of responding to an overwhelming number of records requests, as well as the need to remain accountable and compliant with FOIA privacy laws.”

By enhancing FOIAXpress with Veritone Redact, AINS customers will experience expedited video and audio file requests, which have increased in volume dramatically with new technologies such as surveillance cameras.

“Surveillance technologies help monitor and improve government agency operations, but they also bring a tremendous amount of audio and video data, which must be sorted through when redacting sensitive information,” said Jon Gacek, general manager, aiWARE Enterprise for Veritone. “AINS is trusted by the world’s top government agencies to accelerate their digital transformation initiatives, including public records requests, which is why integrating best-in-class technologies into its FOIAXpress platform is critical. Selecting Veritone Redact reflects AINS’ commitment and vision to help shape the future of work with big ideas that challenge conventional thinking and solve complex organizational challenges with a new approach.”

Built on Veritone’s proven aiWARE enterprise platform, Veritone Redact enables users to manually define sensitive imagery and objects, then automatically redacts this information from audio, video, and image-based evidence. From there, the redacted evidence can quickly be downloaded with logs to support chain of custody requirements and shared with colleagues, public defenders, or other key stakeholders. It also enables searches for keywords and phrases captured within the recorded audio and quick redaction of those items.

To learn more, visit: https://www.veritone.com/applications/redact/ and https://www.ains.com/foiaxpress/.

About AINS

AINS is a global provider of adaptive case management platforms and solutions and IT services for government customers. AINS’s software enables organizations to streamline workflows across diverse lines of business. The Company’s software solutions span FOIA, Audits, Investigations, and other applications, all of which are purpose-built for specific use cases. Founded in 1988, AINS is headquartered in Gaithersburg, Maryland and has 161 employees in the DC Metro area.

About Veritone

Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-expansive Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.

Safe Harbor Statement

This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


© Business Wire 2022
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Financials (USD)
Sales 2022 153 M - -
Net income 2022 -50,2 M - -
Net cash 2022 17,8 M - -
P/E ratio 2022 -4,03x
Yield 2022 -
Capitalization 211 M 211 M -
EV / Sales 2022 1,26x
EV / Sales 2023 1,08x
Nbr of Employees 546
Free-Float 86,0%
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 5,85 $
Average target price 11,29 $
Spread / Average Target 92,9%
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Managers and Directors
Chad Edward Steelberg Chairman & Chief Executive Officer
Ryan S. Steelberg President & Director
Michael L. Zemetra Chief Financial Officer, Treasurer & Executive VP
G. Louis Graziadio Independent Director
Jeff P. Gehl Independent Director
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