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Red Points Takes $12M to Help Brands Beat Fakes

09/01/18

9th January 2018 – Some nice momentum for Barcelona based Red Points which has closed a $12M Series B, led by Northzone. Previous investors Mangrove and Sabadell Venture Capital also participated in the round.

This follows a $2.2M Series A in September 2016 when customers numbered in the region of 75. It’s now reporting customer numbers have passed 300, up from 100 last year. While its revenue growth rate for 2017 was 350 per cent.

The startup offers a cloud-based SaaS solution for IP infringement detection and removal. The system scans for counterfeit products online on behalf of customers and automates the process of having any fake goods (and/or pirated content) removed.

CEO Laura Urquizu says it’s currently removing more than 200,000 incidents of illegal products and content every month for brands and media companies on marketplaces, social apps and websites — touting an “efficiency rate of 96 per cent” (which she says means that for everything it detects it reaches an average removal rate of 96 per cent).

Read the full article in TechCrunch here.