Smart Protection, a Madrid-based startup developing anti-counterfeit software, has raised €10 million in Series B funding. The round was co-led by the Dutch fund Knight Capital along with the Spanish-Israeli Swanlaab Venture Factory. CDTI, the Spanish National Innovation Agency, participated as well.
A handful of previous investors — including Nauta Capital, JME Ventures, Bankinter, Big Sur Ventures and Telefónica — joined this round, too, some of whom participated in the startup’s €5.2 million Series A last year.
Smart Protection’s platform tracks down and removes illegal digital copies of users’ assets, be that a pirated movie on a backwoods streaming website or a counterfeit product on a marketplace. The company is part of Google’s Trusted Copyright Removal Program, and has certifications or partnerships with other social networks, which allows the team to delist and eliminate links that lead to illegal contents.
Founded in 2015, the brand protection startup currently works with clients across 25 countries, and notes that over 75 percent of its income comes from outside of Spain.
With the new capital, the company plans to continue international expansion and hire the best engineering talent it can find.
Photo: Smart Protection team