Red Points, a startup from Barcelona that focuses on brand and IP protection online, has secured $38 million in fresh funding. The round is led by Summit Partners, with additional participation from existing investors Northzone, Mangrove, Eight Roads Ventures, and Banco Sabadell. This round brings the total amount raised by the startup to $64 million.
Red Points' platform is a way for companies to find and remove brand and IP infringements, primarily from online marketplaces. The two main parts of the solution are a “targeted web crawler” and a “rules-based rights management database that learns from each account’s history and improves the level of protection over time,” the company explained in a press release.
The company stated that its software currently removes hundreds of thousands of incidents of illegal products and content every day across more than 100 online marketplaces and social networks. Red Points also said that its platform is used by over 450 brands, including Foreo, MVMT, and DOPE.
The story has been updated to reflect that Red Points' doesn't remove more than 100,000 incidents of illegal products daily, as well as that the number of marketplaces also includes social networks.