BARCELONA, Spain, May 8, 2018 /PRNewswire/ --
Global venture capital firm Eight Roads Ventures has led a $12m Series B extension
Red Points, the Barcelona headquartered IP Protection SaaS company, today announces an additional investment extension round of $12m. Eight Roads Ventures joins existing investors Mangrove and Northzone. This follows the announcement of a Series B round in January 2018, which was led by Northzone.
Red Points has continued to experience rapid growth since its Series B round of investment and will add global scaling expertise by partnering with Eight Roads Ventures, a global venture capital firm which recently announced a $375m European fund for scale-ups. Eight Roads Ventures has offices in the UK, U.S., China, Japan and India, and its near 50-year history of investing includes partnerships with companies such as Alibaba, Appsflyer, Made.com, Wallapop and Xoom.
For Laura Urquizu, the Red Points' CEO, the addition of Eight Roads Ventures reinforces Red Points' strong prospects in a sector that is being disrupted by technology. "Together with Mangrove and Northzone, Eight Roads Ventures is an essential ally in our fight for a world where brands can rely on technology to solve their problems with counterfeits, piracy and other forms of brand abuse. The fact that we've managed to attract VCs with strong experience in ecommerce and content platforms is because they too understand the importance of a technology solution in a space that has traditionally been dealt with by law firms."
Davor Hebel, Managing Partner and Head of Eight Roads Ventures Europe, said: "Red Points tackles important issues of counterfeiting and copyright infringement for SMEs and enterprises through its best-in-class SaaS platform. The company is exactly the kind we like to invest in, scaling fast and with the ambition and product to become a global industry leader. We look forward to working closely with this talented team and leveraging our global platform and experienced operators to support their development."
The announcement of the new round was made together with the nomination of David Waroquier as Red Points' new Chairman. David Waroquier assumes the position previously occupied by Josep Coll, who originally founded Red Points.
The decision was taken in consideration of the significant growth of Red Points and its next stage of business and technology development. "Red Points wouldn't be the success story we know today if it wasn't for Josep Coll's contribution," comments Urquizu. "We've taken the joint decision that David Waroquier's international experience and its firm, Mangrove's, expertise in growing world leading SaaS companies such as Wix and WalkMe will help Red Points consolidate and develop its unique positioning in the intellectual property protection market."
About Red Points
Red Points is a technology company that provides the smart solution for brands and content owners to counterfeiting online and digital piracy. Red Points is the preferred brand protection partner in the sporting, entertainment, fashion & accessories, editorial, design and luxury industries, providing unique products across the entire digital spectrum. To learn more about Red Points, please visit http://www.redpoints.com.
About Eight Roads Ventures
Eight Roads Ventures is a global venture capital firm that helps entrepreneurs scale. In the past ten years the Eight Roads ecosystem has invested almost $6bn globally into growing companies. Its near 50-year history of investing includes partnerships with companies such as Alibaba, AppsFlyer, Compte Nickel, Cúram, Future Advisor, InnoGames, iPipeline, Kensho, Letgo, Made.com, Neo4j, Nuance, Ping Identity, Prosper, Treatwell, Recurly, Wallapop and Xoom. Eight Roads Ventures recently launched a $375m fund for European and Israeli scale-ups. Eight Roads is the proprietary investment arm of Fidelity International Limited. http://www.eightroads.com
For more information and an interview with Laura Urquizu (CEO of Red Points)
VP of Communications at Red Points
SOURCE Red Points