Red Points, a Barcelona, Spain-based SaaS company that automates the protection of brands against counterfeits, piracy, distribution fraud, and other infringements online, raised €20 million in funding.
The investment round was led by European VC IRIS, alongside existing investors Summit Partners and London-based Eight Roads.
Red Points intends to use the new financing to accelerate the evolution of its AI-led technology suite and to strengthen its go-to-market strategy to meet growing customer demand as online fraud and brand abuse continue to escalate worldwide.
Laura Urquizu, Red Points’ CEO and President said, “The OECD estimates that counterfeit goods cost the global economy over €450 billion a year, and this is just one of many rising threats that brands and consumers face in digital. Red Points enables companies to bring back revenue and brand equity lost to fraud, and this new funding will help us accelerate the adoption of the technologies that make it happen effectively.”
Red Points’ Brand Protection software helps find, track, and remove counterfeit listings and sellers. It uses advanced brand protection tools to detect and process thousands of Intellectual Property (IP) infringements automatically and tackle the most harmful offenders first. It looks for infringements with bot-powered searches through text and images every second, 24/7.
Red Points’ customers include Hugo Boss, Electrolux, Fila, Real Madrid, LOWA Sportschuhe, and Puma.
Company: RED POINTS SOLUTIONS, S.L.
Raised: €20.0M
Round: Unknown
Funding Month: November 2022
Lead Investors: IRIS
Additional Investors: Summit Partners and Eight Roads
Company Website: https://www.redpoints.com/
Software Category: Brand Protection Software
About the Company: Founded in late 2011 and led by CEO Laura Urquizu, who joined in 2014, Red Points is a solution to recover digital revenue. Red Points’ Digital Revenue Recovery Platform tracks and removes phantom competitors—those scammers, fakes, and frauds copying your brand and stealing your revenue. It’s time to take back what’s rightfully yours. The SaaS Revenue Recovery Platform offers robust online brand protection, providing visibility across online marketplaces, social media, websites, apps, and NFT platforms. Based in New York, Barcelona, Salt Lake City, and Beijing.
Source: https://techfundingnews.com/red-points-grabs-e20m-funding-female-founded-news/