The
#AIEye: RedMarlin Positioned for Success Following $10M Funding Round
Point Roberts WA, Vancouver BC – November 26, 2019 – Investorideas.com (www.investorideas.com), a global investor news source covering
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Today’s
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AI and deep learning-powered fraud detection company RedMarlin recently raised $10 million USD in a Series A funding
round led by Thomvest Ventures and Crosslink Capital. In an interview with
Investorideas.com, the company’s CEO and co-founder Abhishek Dubey, along with
co-founder and Chief Scientist Shashi Prakash discussed the news. Dubey
explained that one of the company’s primary goals was to enhance its free
online phishing and fraud detection scanner CheckPhish.ai.
“So, CheckPhish.AI is getting a lot of traction,” Dubey
said. “We’re going to make CheckPhish.AI completely self-serve [so] people from
anywhere can come and sign up for APIs and start using our technology in
whichever way they want to.”
According to its official website:
CheckPhish
uses multiple deep learning models under-the-hood to analyze the content of a
website. This primarily involves image object detection to identify brand
logos, trademarks etc. and Natural Language Processing (NLP) to understand
intent of a website. Since CheckPhish analyzes content of a site in real-time,
it has much higher accuracy compared to reactive approaches like blacklists or
URL/Domain/IP heuristics etc.
In the press release, Dubey commented:
"In
today's digital marketplace, phishing and fraud are tantamount security issues
to brands. By providing an effective, accurate, and robust automated system, we
are already helping companies in the finance, travel, transport, social media,
and SaaS sectors grow more confidently, and have a robust strategy in place to
continue fueling growth into new sectors.”
RedMarlin Chief Scientist Shashi Prakash outlined how
the company’s technology worked to detect and protect against fraud:
“RedMarlin’s platform uses deep learning and computer
vision to detect fraud on websites in real time, and it does that by
understanding the visual and textual content of the website,” he said. “Along
with that, we also analyze the natural language content on the website, so it
can understand the intent of the website.”
“With these multiple models we can detect [whether
it’s] a scam and the brand it’s targeting.”
Dubey explained the widespread susceptibility to online
fraud and counterfeit and the consequent opportunity for the company.
“Crypto is getting affected, travel is getting
effected, pharmaceuticals are getting affected,” Dubey said. “We can scale our
technology to each one of these verticals without adding hundreds or thousands
of people. So we’re very excited for the future of RedMarlin and how we can
help customers in different verticals.”
Sam
Mowers, Investorideas.com
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