Reality Defender Expands Series A to $33 Million to Enhance AI Detection Capabilities

News provided by

Oct 22, 2024, 08:22 ET

RSA Innovation Sandbox-winning AI-generated media detection platform accelerates development as part of new upsized round led by Illuminate Financial.

NEW YORK, Oct. 22, 2024 /PRNewswire/ -- Reality Defender, the premier deepfake and AI-generated media detection platform, announced today that its Series A fundraising has been expanded, securing a total of $33 million in capital investment. The expanded fundraising round was led by Illuminate Financial, with additional participation from Booz Allen Ventures, IBM Ventures, the Jefferies Family Office, and Accenture, as well as additional participation from original Series A lead investor DCVC and past investors The Partnership Fund for New York City and Y Combinator.

Founded in 2021, Reality Defender is the leading platform providing enterprises, platforms, and governments with robust solutions to detect deepfakes and AI-generated content across audio, video, images, and text. Since launching in 2021, Reality Defender has partnered with financial entities, government agencies, and media conglomerates to detect millions of deepfakes, prevent advanced voice fraud in real time, and deflect state-sponsored attackers.

"The Reality Defender team's proactive development has allowed our platform to not only keep pace with the many ills brought on by deepfakes and generative AI, but protect against novel and potential future threats as they appear," said Ben Colman, CEO and Co-Founder of Reality Defender. "Illuminate not only recognizes the threats deepfakes pose to the financial sector, but allow us to further our reach in the sector and beyond — moving from call centers at tier-one banks to vulnerable places where AI-enabled fraud can inflict the most damage."

"Financial institutions are experiencing a growing number of synthetic media attacks and are at the greatest risk of financial loss and reputational damage," said Alexander Ross, General Partner at Illuminate, who will also join the Reality Defender board. "We are excited to partner with Reality Defender to accelerate their go to market through Illuminate's strategic partners and industry-focused network."

"Reality Defender has swiftly established itself as the industry leader in deepfake detection," said Ali Tamaseb, a General Partner at DCVC and a member of Reality Defender's board of directors. "It offers vitally needed protection against emerging digital threats against enterprises, governments, and the world's largest banks and financial institutions. We are excited to welcome new investors, including financial institutions and financial technology investors, on-board."

As deepfakes continue to spread and cause tangible damages on and offline, Reality Defender's technology has become increasingly critical in the fight against fraud and disinformation. According to Accenture's Cyber Intelligence (ACI) researchers, threat actors are willing to spend more for higher quality deepfakes, with prices reaching up to $20,000 per minute for high quality videos. Additionally, researchers have observed a 223% increase from Q1 2023 compared to Q1 2024 in the purchasing and selling of deepfake-related tools in major dark web forums, showing the immediate need for Reality Defender's AI-driven real-time detection capabilities in maintaining the trust and integrity of critical systems. With this extended funding, Reality Defender is poised to continue its mission of protecting organizations, governments, and individuals from the threats posed by deepfakes and AI-generated content.

About Reality Defender

Reality Defender is an award-winning cybersecurity company helping enterprises and governments detect deepfakes and AI-generated media. Utilizing a patented multi-model approach, Reality Defender is robust against the bleeding edge of generative platforms producing video, audio, imagery, and text media. Reality Defender's cloud-based deepfake detection web platform and corresponding API empowers teams to identify fraud, disinformation campaigns, and harmful deepfakes in real time.

About Illuminate Financial

Illuminate Financial is a thesis-driven venture capital firm, focused on Fintech and enterprise software companies defining the future of financial services. Illuminate Financial's deep networks and trusted partnerships with key industry participants provide real insight into what the industry needs and helps their portfolio companies achieve their full potential.

Additional information can be found at www.illuminatefinancial.com
Twitter: @IlluminateFM
Blog: https://medium.com/illuminate-financial
LinkedIn: https://www.linkedin.com/company/illuminate-financial-management

CONTACT: Scott Steinhardt, [email protected], +17188645744

SOURCE Reality Defender