Red Points takes $12M to help brands beat fakes
Summary
Our focus is on hiring sales professionals from the US and expanding our technology team, with the objective of increasing Red Points’ deep-learning and image recognition capabilities,” she tells TechCrunch.While anti-piracy technology still constitutes a chunk of Red Points business, anti-counterfeiting and brand protection makes up the large majority (75 per cent) of its current revenue, according to Urquizu.It also applies its learning tech to derive insights from clients’ enforcement history — suggesting new detection rules and validation opportunities, which it claims decreases the amount of time of analysts need to spend identifying infringements.Another strand of the proposition feeds back asset-based analytics to customers — offering “actionable intelligence data on assets, type of infringements, regions, sellers etc, so it can be used to benefit the business”.Commenting on the funding in a statement, Northzone partner, Jessica Schultz, said: “There is a clear gap in the market for a technology solution that is scalable and flexible to the demands of the brand owners, and has strong relationships with the online properties where IP infringements are a problem.
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