Irish startup GreyScout secures €3.5 million investment for online brand protection platform
GreyScout, a SaaS platform for online brand protection, has announced a €3.5 million seed investment, bringing the total raised to €4.5 million.
The round was jointly led by Act VC and Tribal, with participation from Furthr VC, Enterprise Ireland, and HBAN.
Founded in 2020 by John Killian and Chris McCauley, GreyScout is designed to programmatically monitor e-commerce channels, identifying potential intellectual property infringements and grey market activity, with the company catching the attention of the likes of Nestle, Bayer, Netgear, Mayborn, and Dorel Maxi-Cosi.
Its focus lies in addressing the challenges posed by the surge in suspected bad actors and unverified sellers. Through reseller verification and product authentication, the platform automatically removes infringing product listings from the customers’ view.
This not only reduces the manual efforts of e-commerce and legal teams in tracking, but is also said to boast a 98% success rate on key customers' enforcement and IP portals submissions.
GreyScout also says that its streamlined onboarding process significantly reduces setup time, transforming what used to take weeks or even months into a mere matter of hours.
Principal at Act VC, Andrew O’Neill, comments: “Companies are struggling to protect their brands online as they try to maintain visibility and verification across an ever-growing number of channels.”
“With its automated and scalable platform, GreyScout is delivering real value for its customers and has an opportunity to be the category leader in grey market protection. We’ve known the team for some time and look forward to supporting them as they scale.”
John Killian, CEO and Founder at GreyScout, comments: “We feel incredibly fortunate and grateful for the support we have received from our extremely talented and driven team, our customers, investors, and industry peers.”
“With this funding, our aim is to expand our product, engineering, and platform teams in direct response to the surging demand for more automated brand protection solutions. Our objective is to empower brand owners with a cost effective, scalable, and user-friendly solution that ensures full control over online activity related to their brand.”
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