AI-powered threat protection firm Scamnetic has announced raising $13 million in a Series A funding round that brings the total raised by the company to $16 million.
The investment round was led by Roo Capital, with 1st and Main Growth Partners, Riptide Ventures, and SaaS Ventures providing additional support.
The Tampa, Florida-based startup emerged from stealth mode in August 2024 with a scam-detection solution that leverages AI to protect individuals and businesses from digital threats in real time.
Scamnetic’s solution automatically scans messages, emails, QR codes, physical mail, and images to identify risks, and verifies the identity of audio, video, and text communication partners to prevent dating, crypto, and investment scams.
Additionally, the company offers a support hotline to guide scam victims through recovery efforts, and provides education on scam protection.
Scamnetic will invest the fresh funds in marketing, sales, and customer support functions, as well as in accelerating its product roadmap.
“Scams are among the biggest issues facing consumers and businesses worldwide. As scams become more sophisticated with the rise of AI, the problem is proliferating at an alarming pace. Scamnetic is tackling this urgent challenge with a product that actually works. The world needs to fight AI with AI,” Roo Capital partner Spencer Cecola said.
According to the FBI’s latest internet crime report, cyber-enabled fraud losses reported in 2024 amounted to $13.7 billion, representing roughly 83% of all reported cybercrime losses, which exceeded $16.6 billion. Investment, BEC, and tech support scams caused reported losses of nearly $11 billion.
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