Insider Brief
- Scamnetic has raised $13M in Series A funding led by Roo Capital, bringing its total investment to $16M to scale marketing, sales, customer support, and product development for its AI-powered scam protection platform.
- The company offers a comprehensive scam detection suite, including Scan&Score™, IDeveryone™, Scam Intervention™, and Scam Education™, helping individuals and businesses verify interactions and recover from fraud.
- With scams causing over $1 trillion in global losses annually, Scamnetic aims to restore digital trust by combating increasingly sophisticated AI-driven scams with a holistic, 24/7 protection approach.
PRESS RELEASE — Scamnetic, a company dedicated to protecting individuals and businesses from digital threats using advanced AI technology, has announced it received $13 million in series A funding. Roo Capital led the round; 1st and Main Growth Partners, SaaS Ventures and Riptide Ventures also participated in the round. The series A round brings the total investment in Scamnetic to $16 million.
Scamnetic will use the funds to support continued growth with additional marketing, sales and customer support functions and accelerate its product roadmap in response to increasing global demand. Scamnetic customers will benefit from an enhanced core feature set, stronger global coverage and deeper support throughout the customer lifecycle.
“We’ve always believed that the greatest threat to consumers isn’t just fraud — it’s the erosion of trust. This raise enables us to accelerate our mission: restoring confidence in a world increasingly plagued by scams. We’re grateful for our partners who continue to collaborate with us in this critical fight, as scams remain the most reported crime globally — highlighting the tremendous market opportunity ahead,” said John Evans, chief operating officer, Scamnetic.
“Scams are among the biggest issues facing consumers and businesses worldwide,” said Spencer Cecola, partner at Roo Capital. “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, and we’re excited to back them with capital and hands-on support to help them scale fast and stay ahead.”
Scamnetic provides the only holistic scam-detection solution in the market, combating every current scam. Scamnetic includes:
- Scan&ScoreTM: Automatically scans emails, text messages, social media direct messages, websites, messaging apps like Whatsapp, Telegram etc. along with QR codes, physical mail and images to understand the risk from any incoming communication.
- IDeveryoneTM: Verifies the identity of any counterparty using advanced but easy-to-use technology, enabling users to know exactly with whom they interact whether by video, audio or text. Especially before sendi.ng payment or sensitive information. It combats dating scams, Facebook marketing scams, crypto scams, land investment scams and more.
- Scam InterventionTM: Scamnetic’s hotline full of experts who work tirelessly to restore assets and peace of mind for scam victims. Scamnetic offers 24/7 support, helping consumers who may be in the throes of a scam, guiding victims to recovery and helping them reclaim control over their digital life.
- Scam EducationTM: The latest scam protection tips and resources.
In addition to the anguish that scam victims experience, the financial cost of scams is staggering. For example:
- U.S. consumers reported losing more than $12.5 billion to fraud in 2024, a 25% increase from $10 billion in 2023, according to the U.S. Federal Trade Commission.
- U.S. consumers reported losing $470 million to scams that started with text messages in 2024, according to the U.S. Federal Trade Commission.
- In 2023, fraud scams and bank fraud schemes totaled $485.6 billion in projected losses globally, according to the Nasdaq 2024 Global Financial Crime Report.
- There was a 22% year-over-year growth in U.S. consumer scam losses in 2023, according to the Federal Bureau of Investigation Internet Crime Report 2023.
- International scammers stole over $1 trillion in 12 months, according to the Global Anti-Scam Alliance’s Global State of Scams Report 2024.
About Scamnetic
Scamnetic is dedicated to protecting individuals and businesses from digital threats using advanced AI technology. Its mission is to make digital interactions safe and secure, providing peace of mind in an increasingly complex digital world. Scamnetic investors include Roo Capital, 1st and Main Growth Partners, SaaS Ventures, Riptide Ventures, Ruxton Ventures, Ori Eisen, Ken Levine and other angel investors. For more information visit https://scamnetic.com/.
Contacts
Media contact
Sara Delacruz
[email protected]
