Business News Report
January 24, 2024

Doppel Raises $14M Funding from a16z to Innovate Brand Protection with Generative AI

Doppel Raised $14M from a16z to Revolutionize Brand Protection with Generative AI

Generative AI-driven brand protection platform Doppel raised $14 million in investment, closing Series A funding round led by a16z and Strategic Cyber Ventures.

The round also saw participation from Frederic Kerrest, Vice Chairman and Co-Founder of Okta, Emilio Escobar, Chief Information Security Officer at Datadog, Andy Ozment, Chief Technology Officer Risk officer at Capital One, Prafulla Dhariwal, Research Scientist at OpenAI and a range of other investors including South Park Commons and SVAngel.

Doppel is dedicated to protecting brands and organizations from external threats, such as impersonation, phishing, disinformation and large-scale counterfeiting campaigns. 

It provides a range of solutions designed to address digital risks including native integration with various platforms, such as social media and domain name registrars, facilitating comprehensive data sourcing and the automation of alert remediation. The platform also focuses on establishing strategic relationships with diverse platforms, empowering them to take a proactive approach in managing potential threats.

Doppel announced it intends to direct the recent funding for Research and Development (R&D) efforts, aiming to enhance automation and intelligence capabilities across dark web, social media and paid advertising channels. Additionally, the platform plans to expand core operational and Go-To-Market (GTM) teams.

Furthermore, the company presents an innovative approach to addressing digital risks by leveraging the latest AI technology natively. This strategy enhances the signal-to-noise ratio in detection, streamlines internal operational workflows for takedowns, and consolidates intelligence on external threats at an internet scale. 

Established in 2022 by former software engineers from Uber, Kevin Tian and Rahul Madduluri, Doppel presently serves enterprises spanning various industries including Coinbase, ARK Invest, and VSCO among others. 

Generative AI’s Evolution Fuels Surge in Cyber Threats

The evolution of generative AI has transformed what was once a manual process for attackers into a highly automated and scalable venture. This shift has turned a previously infrequent category of attacks into a commonplace event on a daily basis.

The cybersecurity report from Trend Micro highlights that the surge in generative AI tools is anticipated to contribute to an increase in sophisticated social engineering tactics and identity thefts in 2024. 

Recently, attackers, utilizing email addresses that replicate major Web3 and media companies such as WalletConnect, Token Terminal, and Cointelegraph managed to illicitly obtain over $580,000 from unsuspecting victims through hacking and phishing attacks.

Attackers can now replicate images, voices and even speech patterns in a very convincing way with minimal effort. This counterfeiting problem extends beyond individuals to creating the fake merchants, product reviews, and various elements within the online ecosystem. 

While several services have historically addressed takedowns, their effectiveness has been limited. These solutions primarily involve a labor-intensive combination of security operations and legal staff manually reviewing information, followed by a lengthy process to remove objectionable content. The existing methods for handling such issues often fall short in terms of efficiency and effectiveness.

With the new funding, Doppel is set to redefine brand protection, leveraging generative AI capabilities to address digital risks and fortify the resilience of organizations against emerging threats.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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