Summit Partners leads $38m funding round for Red Points

Northzone, Mangrove Capital Partners, Eight Roads Ventures and Banco Sabadell also joined the round, which brings Red Points' total capital raised to around $64m.

The company plans to use the investment to accelerate its international expansion and further develop its product offering.

Previous funding
Mangrove led a €2m series-A funding round for the Spanish internet security business in September 2016. 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.

Northzone led a $12m series-B round for Red Points, with support from previous investors Mangrove and Sabadell Venture Capital in January 2018. The company raised an additional $12m in May 2018 from Eight Roads Ventures, Mangrove and Northzone.

Company
Founded in 2011 and based in Barcelona, Red Points develops internet security software for copyright protection against counterfeiting, digital piracy and distribution agreement breach. The business offers 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 100,000 incidents of illegal products and content per month for brands and media companies across 100 online marketplaces. The business has a customer base of 550 clients worldwide, including Bang & Olufsen, MVMT and Dope. Red Points opened additional US headquarters in New York in 2018.

People
Summit Partners – Steffan Peyer (principal).
Red Points – Laura Urquizu (CEO).

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