Member Article

Tech scale-up Red Points appointed as Europe’s next unicorn

DIGITALEUROPE grants the anti-fraud company with the Future Unicorn Award 2023, which recognizes its potential to become a European tech giant

Red Points, the world’s most widely used platform for combating online brand abuse, has received this year’s Future Unicorn Award from DIGITALEUROPE, the leading European business association for the IT industry. The award ceremony took place on Wednesday 8 March during the conference Masters of Digital 2023 in Brussels.

For the past six years, this recognition has been awarded to the most promising European tech scale-ups that have developed a particularly disruptive, rapidly scaling and internationally renowned solution. A pioneer in the fight against counterfeits, piracy and impersonations with technology, Red Points is used today by some of the world’s largest brands on all five continents, including several Fortune 100 companies.

Red Points announced a raise of €20 million in funding in November 2022. The investment round was led by European VC IRIS, alongside existing investors Summit Partners and London-based Eight Roads.

On the road to becoming the technological standard to fight against online fraud This award is a recognition of the scale-up’s continuous path to success. In the midst of an online fraud boom — a trend accelerated by the COVID-19 pandemic — the company has continued to grow at a fast pace, consistently expanding its customer base and recently reaching 1,200+ corporate clients, which include Electrolux, Fila, Real Madrid, Lowa Sportschuhe and Puma. Today, Red Points has 300 employees in offices across Europe, North America, and Asia.

The platform’s AI-led solution scans the Internet on behalf of its customers to find and remove online counterfeiters, pirates and impersonators that are, in effect, stealing revenue from them. Through Red Points, brands can identify infringements on marketplaces, websites, social media, apps and NFT platforms, and act upon them in an effortless, cost-efficient manner.

With this award, Red Points joins the ranks of other emerging European tech scale-ups pioneering in areas such as healthcare, HR tech and Industry 4.0. The organisers of the Future Unicorn Award are keen to highlight the competitiveness of Red Points in the global digital ecosystem: “Red Points is a brilliant example of how innovation from the private sector can boost Europe’s digital resilience. While governments hold the institutional decision-making process for common good, the private sector holds the key to most of today’s tech innovation and the digital infrastructure required to swiftly face and recover from any severe disruption” says Cecilia Bonefeld-Dahl, Director General of DIGITALEUROPE.

“It’s vital for the EU to break down remaining Single Market barriers and help scale-ups such as Red Point make it to the next level and become a global unicorn.”

“We are very proud to be recognised as the digital company that can become Europe’s next tech giant,” says Laura Urquizu, CEO & President of Red Points. “Fighting online fraud every day with some of the largest brands around the world is both a challenge and an inspiration. This distinction recognises the importance of our mission: making the Internet a safer place for brands and consumers.”

Red Points is the most widely used solution to recover digital revenue. Over 1,200 companies rely on our platform to fight counterfeits, piracy, impersonation, and distribution abuse. They leverage Red Points to take back the revenue that’s rightfully theirs. With 300 employees, Red Points has disrupted an industry traditionally led by service providers with a scalable, cost-effective solution.

This was posted in Bdaily's Members' News section by Red Points .