VRIFY raises $12.5M to advance the world’s first AI-assisted mineral discovery platform

VRIFY Technology – a technology company combining advanced AI with deep industry expertise to transform how minerals are found – has secured […]
VRIFY co-founder and CEO Steve de Jong.

VRIFY Technology – a technology company combining advanced AI with deep industry expertise to transform how minerals are found – has secured CAD$12.5 million in series B funding. Led by New York–based venture capital firm LGVP, with continued support from series A funders RCF Innovation and Beedie Capital, this round brings VRIFY’s total funding to over CAD$30 million.

Industry sources say the investment will accelerate industry-wide adoption of DORA, the world’s leading AI-assisted mineral discovery platform. VRIFY has designed DORA as a sector-wide R&D tool, uniquely placing the platform directly into the hands of the geologists and geoscientists tasked with finding the minerals the world needs to feed supply chains, secure borders, and build energy solutions.

DORA will be officially unveiled to the industry for the first time during the 2025 Prospectors & Developers Association of Canada Convention on Monday, March 3, 2025, at 12:30pm in the VRIFY Lounge on the Investors Exchange Floor(booth 3321) at the Metro Toronto Convention Centre.

At the 2024 PDAC Convention, VRIFY announced its expansion into the artificial intelligence space, demonstrating early potential with a small group of beta clients. Since then, twenty-six early-adopter clients using DORA, including Canterra Resources, RUA Gold, and Southern Cross Gold, have partnered with VRIFY. In September 2024, Southern Cross (SXGC) made a high-grade, gold discovery at its Sunday Creek project from a target identified independently by both DORA and the SXGC exploration team — the first of many new discoveries VRIFY plans to deliver to the mineral exploration industry. 

Steve de Jong, founder and CEO of VRIFY, commented: “The urgency to discover new precious metal and critical mineral deposits has never been greater. Governments across Canada, the United States, Australia, and the world are finally recognizing the strategic importance of natural resources and the value of advancing them efficiently and with precision. As capital begins flowing back into the sector, 2025 is set to be the year of AI-assisted mineral discoveries and we’re playing a pivotal role in making this happen. 

Artificial intelligence in mineral exploration isn’t some future concept — it’s happening now. At VRIFY, we are unlocking the real power of AI in our sector by fusing proprietary technology with deep industry experience to deliver DORA, the world’s first AI-Assisted mineral discovery platform.”

The technical team – led by geologist Jean-Philippe Paiement, a pioneer in AI for mineral exploration since his team won the $1 Million Integra Gold Rush Challenge in 2016 — our consists of top-tier geologists, geophysicists, and some of leading AI and data experts in the field.

Leading the series B round is LGVP – a venture capital firm led by entrepreneur Itai Tsiddon, co-founder of Lightricks, a unicorn in the creative software space. LGVP also backed Frame.io, which was acquired by Adobe for $1.3 billion, and Mews, which has a market valuation of $1.2 billion.

 Tsiddon commented: “As an investor and former entrepreneur, I focus on a few high-impact ventures and work closely alongside founders. This approach has consistently led to outlier results, and I am confident we will achieve the same with VRIFY. The company has built the world’s leading AI technology for mineral exploration and mining. They have done so as industry insiders, during a time when the need to discover more critical minerals is being recognized globally. The company has already built a deep trust with their early customers, and we’re excited to support Steve and his team as they scale DORA, a game-changing platform that will drive real value in the sector.”

DORA harnesses proprietary AI, data visualization, and deep-learning models to transform vast datasets into actionable insights. By integrating VRIFY’s proprietary geological dataset — one of the industry’s largest — and project-specific information, DORA rapidly synthesizes complex insights and identifies hidden patterns. Continuously refined with new geoscientific inputs, DORA provides clients with clear, data-driven explanations, enabling teams to focus on strategic geology and accelerate discovery from months to minutes.

 Jean-Philippe Paiement, chief technology officer at VRIFY, stated:“With DORA, we are putting the power of AI and tens of millions of dollars of R&D directly into the hands of geologists through our user-facing platform. It’s like ChatGPT for geology. We are not here to replace geologists and their vast knowledge of a project. We are here to supercharge that knowledge through a tool that enhances exploration accuracy, improves discovery rates, builds investor confidence, and makes the sector more attractive to investment.”

At present, the company has said it is “aggressively expanding” its team and recruiting top geologists, geophysicists, and data scientists. VRIFY aims to scale its technical and business development teams rapidly within the next 12 months as we onboard forward-thinking companies eager to approach mineral exploration through a modern, geoscience-driven lens.

VRIFY also collaborates with its clients to transform complex geological data into interactive, visually engaging presentations, bridging the gap between technical and non-technical audiences — showcasing the value of discoveries.

 Finally, Steve de Jong and JP Paiement will present a live demonstration of DORA at the VRIFY Lounge on Monday, March 3, 2025, at 12:30 pm on the investors exchange floor (booth 3321) at PDAC. 

 On Tuesday, March 4, 2025, at 12:30 pm VRIFY will host a conversation with early-adopter clients who have seen first-hand the power of this world-first technology.

 To learn more about VRIFY visit www.Vrify.com.

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