Reality Defender, a startup specializing in detecting deepfake and AI-generated media, has secured $33m in its Series A funding round.
According to Security Week, the investment round included contributions from a diverse group of backers including Illuminate Financial, Booz Allen Ventures, IBM Ventures, the Jeffries Family Office, Accenture, DCVC, and The Partnership Fund for New York City.
Reality Defender is at the forefront of developing technologies aimed at mitigating risks associated with synthetic media. These risks include fraud, misinformation, and identity spoofing, which pose significant challenges to the integrity of information within various sectors, particularly in financial services.
Founded in 2021, the company has developed a robust multi-model, multimodal technology that is capable of detecting AI-generated content at scale. This innovative solution works across different media types, including audio, video, images, and text, addressing enterprise-level concerns over synthetic media manipulation.
The new funding will be utilized to broaden the company’s technological capabilities and expand its operations into the financial sector. This move is aimed at enhancing the detection and prevention of deepfake-related risks that threaten the security and reliability of financial information and transactions.
Additionally, Reality Defender highlighted research from Accenture’s Cyber Intelligence team, which points to an alarming trend: threat actors are increasingly willing to invest significant sums into more sophisticated deepfake technologies, with costs for high-quality videos reaching up to $20,000 per minute. Moreover, the company pointed out a staggering 223% increase in the trade of deepfake-related tools on major dark web forums from Q1 2023 to Q1 2024, underscoring the growing market for these malicious technologies.
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