Hyderabad: Fakespot, a leading platform for consumers to protect themselves from eCommerce scams on Amazon, Walmart, and Shopify sites, announced on Thursday that it has secured a $4 million in Series A funding led by Bullpen Capital with participation from Graph Ventures, Ty Shay, 500 Startups, Faith Capital Holdings, and founders Saoud Khalifah and Rob Gross.
We will use the funding to expand its product offerings to its rapidly growing user base that is eager to avoid the growing problem with eCommerce scams on the top online marketplaces, Fakespot, which provides consumers with the best way to shop online by guiding consumers to the best products from the best sellers in real-time on leading online marketplaces, said in a release here.
As more and more of our daily actions are done online, the importance of trust has grown exponentially, and Fakespot intends to be the leader in building technology and products that tackle fake reviews, fake sellers, and more.
In Bullpen Capital, we have the ideal partner with extensive knowledge of our industry, and we are incredibly excited to craft the success story together.
Fakespot’s mission is to bring trust and transparency to the Internet, starting with eCommerce.
Utilizing a proprietary AI and Machine Learning platform that analyzes many critical data points, including reviews, third-party sellers, and reputation data, Fakespot is trusted by over 325,000 users to save time, money, and frustration while shopping online.
By downloading Fakespot’s Chrome Extension, consumers can easily detect unreliable third-party sellers and fake reviews in real-time.
With no one having consumers’ backs, Fakespot is uniquely positioned to help consumers recognize misinformation and fraud online before they get ripped off.