The AI Eye: RedMarlin Positioned for Success Following $10M Funding Round
Point Roberts, WA and Vancouver, BC - November 26, 2019 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.
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The #AI Eye: RedMarlin Positioned for Success Following $10M Funding Round
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
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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