Barcelona-based Red Points, a global startup in online IP infringement detection and removal, announced today that it has closed €34 million in funding, bringing the company’s total capital raised to €57 million. The round was led by American investment firm Summit Partners, with additional participation from existing investors Northzone, Mangrove, Eight Roads Ventures and Banc Sabadell.
According to the company, the new round will solidify Red Points’ growth plan. “This investment round from Summit Partners will help to strengthen Red Points’ position as a global leader in addressing the ever-growing, rapidly evolving problem of online brand abuse. With this new funding, we plan to further expand our technology and global footprint with the goal of empowering brands worldwide to seamlessly protect their valuable assets online”, said Laura Urquizu, CEO and Partner of Red Points.
Red Points was founded in 2011 and has offices in Barcelona and New York. The company’s solutions are used by over 550 brands worldwide including Bang & Olufsen, MVMT and DOPE. As a result of its expansion, the company’s growth rate exceeded 100% for 2018.
Source: Red Points