Online brand protection company MarqVision raises $16M, launches Generative AI suite
There's over $2T in counterfeit goods in the market, and over 70% of consumers have bought them
These days, brands today are fighting an uphill battle against counterfeiting: the market has exploded, with $2 trillion in counterfeit products flooding the global economy, an enormous risk for any business. According to recent research from online brand protection company MarqVision, consumers are also being misled, with over 70% unknowingly buying fake products.
"This not only damages the trust they've built with those brands but also slashes revenue and long-term loyalty. It’s an evolving and complex problem that requires a new level of technological response," Mark Lee, CEO and co-founder of MarqVision, told VatorNews.
To help solve this problem, MarqVision unveiled Marq AI, a new generative AI product suite designed to offer brands enhanced protection against counterfeited items, along with $16 million in venture funding.
Using Marq AI, the company's customers, which includes number of different industries, such as luxury fashion brands and tech companies, can flag those transactions, gather evidence, and initiate takedown actions, all in a fraction of the time it used to take.
Marq AI’s capabilities include a Conversational Assistant, which can infer which messages are selling counterfeits across multiple languages, and gather the evidence that brands need for enforcement; dashboards that offer detailed insights into why each item is flagged as counterfeit; and Automated Copyright Enforcement Workflows, which can handle the manual processes of website data collection, email dispatch, and enforcement actions.
A typical use case might be a fashion brand, such as current clients Lemaire, Denim Tears, and Malbon Golf, detecting counterfeit versions of its latest release being sold across e-commerce platforms or hidden within social media messages. Another common scenario is protecting intellectual property in the tech space, where rapid enforcement is critical to preserving brand equity.
"We’re solving the counterfeiting problem head-on by combining the latest in generative AI with a deeply strategic approach to brand protection. Marq AI isn't just a detection tool; it’s a full-scale protection suite designed to automatically identify and eliminate counterfeit goods before they can damage a brand," said Lee.
So far, the company's automated processes save up to 180x the time previously required for enforcement actions, and MarqVision has enabled clients to handle 10x the amount of enforcement volume. It can also sift through hidden messages across platforms and languages with over 99% accuracy. However, what really sets the company apart is how it blends automation with customization, explained Lee.
"Our dashboards don’t just show data; they give brands actionable insights and the ability to tweak enforcement strategies in real-time. No one else is doing this at our scale."
"When you combine that efficiency with the fact that we’ve helped our clients maintain their reputation and protect millions in revenue, it’s clear that the investment in Marq AI pays off."
The new funding, which came from Altos Ventures, Y Combinator, and Quantum Light, brings MarqVision's Series A raise to $36 million, and its total funding to $41 million.
The company plans to use the funds to scale and to accelerate the development of features that will further elevate brand protection globally; these announcements also follow a recent expansion of its presence in China, where counterfeiting remains a significant challenge.
"This round not only validates what we have built but also positions us to scale at a rapid pace. We’ve been recognized by LVMH and are part of their accelerator program, an honor that further proves our technology’s impact. We are going to keep pushing the boundaries of what’s possible in brand protection and I’m excited for what’s next," said Lee.
Ultimately, MarqVision believes in democratizing legal expertise and access to the latest in generative AI technology is critical for continuing to support inventors, developers, and artists.
"As counterfeiters evolve and become more sophisticated, it’s crucial that all creators, from global brands to individual inventors and artists have access to advanced tools like generative AI to protect their work," said Lee.
"Our goal is to provide these creators with the same cutting-edge technology that larger companies use, thus leveling the playing field and ensuring that innovation and creation isn’t stifled by those looking to exploit it. With solutions like Marq AI, we are empowering everyone to protect their original ideas, innovations, and creativity in today’s rapidly changing digital world."
