MarqVision, an artificial intelligence (AI)-based integrated intellectual property (IP) service startup, said on the 16th that it has closed a Series B funding round worth about 70 billion won.
Series B funding is an intermediate-stage investment that startups with proven business models receive for growth and market expansion.
With this Series B round, MarqVision's cumulative funding has surpassed 120 billion won. Salesforce Ventures, Coral Capital, and Michael Seibel, honorary partner at Y Combinator, joined as new investors. Existing investors Y Combinator, Altos Ventures, Atinum Investment, and Smilegate Investment also made follow-on investments.
MarqVision has proposed a new business direction called brand control with this investment. It goes beyond traditional brand protection limited to responding to IP threats such as counterfeits and illegal content, and refers to managing all existing digital and physical sales channels. With the spread of generative AI driving a surge in counterfeits, unauthorized sales, impersonation, and piracy, the company plans to establish brand and content protection as an essential growth strategy.
MarqVision provides a brand rights protection service that combines AI technology with legal expertise. Its flagship product, "MarqAI," has increased the speed of detecting and sanctioning brand threats by up to 100 times compared with existing brand protection solutions. The global trademark filing and management solution "MarqFolio" helps corporations with precise trademark filings and management.
Lee In-seop, head of MarqVision, said, "Brand control is an essential concept for sustainable brand growth," adding, "Going forward, MarqVision will continue to support brands in directly growing their reputation and sales based on AI-driven technological innovation and IP expertise."