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Spain-based brand and copyright protection company Red Points has raised €2 million ($2.2 million) to develop technology that detects piracy and online infringement.
Red Points released a statement today, September 28, outlining the details of the technology and the funding agreement.
Mangrove Capital Partners has invested €2 million in Red Points.
The funding will be used to expand Red Points’ offering to companies of all sizes as well as support growth into new markets including North America.
Red Points will license software for detecting and removing copyright infringement on a subscription basis.
The technology continuously searches the web for infringement covering download sites, peer-to-peer networks, forums, social networks, cyberlocker apps and e-commerce sites.
It then documents and monitors each infringement before pursuing extrajudicial actions, such as notification of infringement and communication with the relevant internet service providers.
David Waroquier, partner at Mangrove Capital Partners, said: “Red Points has the potential to disrupt the way piracy and counterfeiting are being detected and resolved over the internet.”
Laura Urquizu, CEO of Red Points, added that the principal objective of the new investment will be to expand the company’s global business operations.
She added: “To achieve our goal of being the global leader, we couldn’t ask for better partners than Mangrove.”
This was first published on World IP Review.
Red Points, Peer to Peer, David Waroquier, piracy, online counterfeit, Mangrove Capital Partners, trademark, copyright