Online IP infringement detection and removal platform Red Points acquired $38 million in funding, bringing the company’s total capital raised to $64 million. The round was led by Summit Partners, with additional participation from existing investors Northzone, Mangrove, Eight Roads Ventures, and Banco Sabadell.
The International Chamber of Commerce estimates that the global economic value of counterfeiting and piracy could reach $4.2 trillion by 2022 and put 5.4 million legitimate jobs at risk. Red Points’ AI-driven technology is designed to take a holistic approach to brand protection by providing comprehensive visibility into infringements negatively impacting a company’s reputation across black, grey, and white markets, offering real-time protection for its IP assets.