Northzone leads $12m series-B for Red Points

Previous investors Mangrove Capital Partners and Sabadell Venture Capital also took part in the round.

With the new capital, Red Points intends to further expand its customer base and open a US office in February 2018.

Previous funding
Venture capital house Mangrove led a €2m funding round for the Spanish internet security business in September 2016. The company already intended to use the fresh capital to expand into North America.

Following the deal, the Luxembourg-based GP retained a minority stake in the business alongside existing investors, including BStartup, the accelerator owned by Spanish bank Banco Sabadell.

Company
Founded in 2011 and based in Barcelona, Red Points develops internet security software to detect counterfeit goods sold online. It has developed a cloud-based technology for intellectual property rights infringement detection and removal, achieved through a keyword-monitoring system and image recognition.

According to the company, Red Points currently removes 200,000 incidents of illegal products and content per month for brands and media companies on marketplaces, social apps and websites with an efficiency rate of 96%.

Red Points has a customer base of 300 clients and is planning to open a New York office in February 2018.

People
Northzone – Jessica Schultz (partner).
Red Points – Laura Urquizu (CEO); Josep Coll (founder); David Casellas (co-founder).
Mangrove Capital Partners – David Waroquier (partner).

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