Online counterfeit tracker Incopro grabs $21m of funding from Highland Europe to boost hunting of internet pirates
Incopro, a business which helps brands including Ted Baker, Harley Davidson and Hunter combat online counterfeits, has today grabbed $21m (£18m) in funding from growth investor Highland Europe.
Incopro, which was founded in a Caffe Nero in London, has developed a technology called Talisman which uses machine learning to scour the web for counterfeit products.
It scans platforms from online marketplaces to social media and each infringement identified is then removed, typically within eight to 24 hours.
“Online intellectual property infringement is a global issue that affects companies in all sectors, from luxury goods to automotive spare parts,” said Incopro’s co-founder and chief executive Simon Baggs.
“The internet revolution has created a massive challenge for businesses seeking to protect their products and brands from counterfeiting and other forms of brand abuse online. Until now, brands have not been offered the tools to effectively deal with this threat.”
Incopro aims to use the investment to expand into China, and build its position in the US and Europe. It also has other technology such as Spectrum, which helps companies ensure their adverts are not placed near “undesirable” content, and Identify, which tracks more than 17,000 piracy websites across the globe.
Corporate finance firm Houlihan Lokey advised Incopro on the investment.
This article was originally posted by City A.M.
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