Scamnetic’s platform automatically scans emails, text messages, links, QR codes, images, and even physical mail to identify potential risks. The company also offers identity verification over video and intervenes when necessary.
The funding round attracted a variety of prestigious investors as the company seeks to reshape scam detection. Scamnetic was founded by Al Pascual, who will serve as CEO, and John Evans, who will serve as COO.
Scamnetic’s AI-driven solutions are designed to detect and prevent scams in real time. Their technology suite includes features like Scan&Score, which scans emails, texts, and physical mail for risks, and IDeveryone™, a robust identity verification system. These tools are critical in a landscape where digital threats are becoming increasingly sophisticated.
The proceeds from the funding will be used to enhance Scamnetic’s capabilities and expand its market reach. The company also plans to integrate its technology into more enterprise platforms, allowing service providers to better protect their consumers. Currently operating on a B2B2C model, Scamnetic intends to launch a direct-to-consumer subscription service soon, widening its impact.
Al Pascual, CEO, commented on the company’s mission: “Consumers worldwide are experiencing record losses, with an alarming year-over-year increase. Scammers are leveraging artificial intelligence to carry out sophisticated criminal activities that evade human detection. The industry has responded with educational efforts, warning customers to ‘watch out for this’ or ‘we will never ask you for that,’ and cautioning against clicking suspicious links. Unfortunately, these measures are insufficient. While bad actors employ advanced AI tactics, the good actors rely on basic education. It’s a David versus Goliath battle, and the time to fight back has arrived.”
Source: Security Week
