“With this new round of funding, we can accelerate our mission to build the world’s first IP operating system to give brand owners full control of their IP portfolios.”
LOS ANGELES (PRWEB)
August 02, 2022
MarkVision, creator of the world’s first AI-powered platform designed to protect human creativity and innovation in a digital world, today announced that it has raised $20 million in Series A funding. DST Global Partners and Atinum Investments have joined previous investors Softbank Ventures, Bass Investment and Y-Combinator in recognition of the enormous problems created by counterfeiting and theft of digital assets. With the funds, Marqvision continues to advance product development beyond its brand protection platform to create a new IP operating system that also enables businesses to create, manage, protect and monetize copyrights. intellectual property – all in one place.
Counterfeiting has become a massive problem, affecting all corners of the globe, and it is expected to grow another 50% this year to nearly $3 trillion in 2023. The scale of the problem, coupled with MarqVision’s innovative technology , is what attracted DST Global Partners and Softbank, both among the largest and most influential investors in the world. The participation of global investors in this round shows confidence in MarqVision’s ability to build a unique platform for intellectual property and attests to the huge market opportunity in this space.
Brands spend millions of dollars developing innovative and coveted products, then millions more in digital campaigns and online shopping experiences to promote them, only for counterfeiters to hijack those assets and create inferior copies. for their financial gain. The rise of online marketplaces and third-party sellers has made this possible by lowering the barrier to distributing counterfeits globally and increasing the volume and speed at which counterfeit products are sold. Brands have traditionally relied on law firms to fight infringers, but taking effective action against the millions of counterfeits that are being traded in real time is nigh on impossible – companies big and small often don’t have no such remedy.
MarqVision offers the only solution to help digital content owners and global brands protect their intellectual property. Its technology has been adopted by many major global brands. In fact, MarqVision recently received a coveted award Innovation Award 2022 of LVMH Moet Hennessy Louis Vuitton (LVMH). The company was recognized in the Data and Artificial Intelligence Special Mention category at this year’s Viva Technology show in Paris and was named a brand protection provider for three LVMH Maisons. MarqVision has also established its value across its entire customer base, with its retention rate remaining above 97% for all logos.
“Creative assets are under attack in today’s digital world, with content owners largely unprotected as consumers are tricked into buying counterfeit products and NFTs by sophisticated counterfeiters,” said Mark Lee, co -founder and CEO of MarqVision. “With this new round of funding, we can accelerate our mission to build the world’s first IP operating system to give brand owners full control of their IP portfolios.”
Real-time, AI-powered protection for today and tomorrow
MarqVision has developed technology that enables effective removal of digital counterfeits and piracy – including product images, NFTs, etc. – by automating the traditional anti-counterfeiting and piracy process from start to finish (most brands fight counterfeits by engaging in manually finding infringements and filling out the paperwork, a laborious process involving many repetitive tasks). MarqVision’s proprietary AI models detect counterfeits with over 95% accuracy and suppress large-scale counterfeit sales.
The company’s technology removes counterfeits from more than 1,500 global online marketplaces, spanning e-commerce, social media and NFT platforms, while requiring little time investment from brands leveraging his service. The company is set to expand its services in the coming months to cover all aspects of creating, managing, protecting and monetizing intellectual property rights through a single IP operating system.
“What the MarqVision team has done over the past two years is amazing. They have built a highly adaptable, world-class solution to a rapidly growing and evolving problem – and they continue to expand its capabilities in impactful ways,” said Cheuk Kim, Managing Director of Atinum Investment. “Nobody else is doing anything this advanced remotely, and it’s possible in large part because of Mark’s experience, not just as a respected technologist and startup founder, but as a legal expert specializing in trademark, copyright and patent laws, he understands the loopholes counterfeiters exploit and develops a new way forward.
To learn more about MarqVision, please visit http://www.marqvision.com.
MarkVision helps global brands identify and remove counterfeits from over 1,500 online marketplaces around the world. Counterfeiting is a massive and growing threat worldwide, and MarqVision is on a mission to protect creativity and innovation with technology that allows brands to automatically monitor and protect their IP addresses. Harnessing image recognition and natural language processing, this AI-powered SaaS makes counterfeit removal faster than ever. MarqVision was founded in 2020 by Harvard law graduates and is backed by DST Global Partners, Softbank, Atinum Investments, Bass Investment and Y Combinator. Winner of a prestigious 2022 Innovation Award from LVMH Moët Hennessy Louis Vuitton (LVMH), MarqVision is also part of the LVMH acceleration program, La Maison des Startups, at the Station F incubator. MarqVision offers the next evolution of brand protection for businesses worldwide. Learn more: http://www.marqvision.com.
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