Reality Defender expands series A to $33M, integrated by Accenture

Reality Defender has reached $33 million in an expansion of its series A funding round. While the company does not explicitly state how it plans to use the capital in the announcement, an accompanying notice suggests that the next phase of Reality Defender’s development will be focused on expanding the market presence of its deepfake detection technology.

The expanded round was led by Illuminate Financial, with Booz Allen Ventures, IBM Ventures, the Jefferies Family Office and Accenture participating. Additional participants included the lead investor of its original series A, DCVC, and previous investors The Partnership Fund for New York City and Y Combinator. The initial portion of the series A was completed a year ago, and raised $15 million.

Accenture says that along with its strategic investment, it will integrate Reality Defender’s technology with its deepfake detection offering. The integrated software will enable clients in financial services, media and high tech industries to quickly detect, prevent, and respond to fraud committed with deepfakes, Accenture says.

Reality Defender is also a graduate of Accenture’s Fintech Innovation Lab New York accelerator, which it co-runs with the Partnership Fund for New York City.

“Accenture’s global reach and cybersecurity expertise will allow Reality Defender to scale our technology during a time of heightened deepfake volatility,” says Ben Colman, co-founder and CEO of Reality Defender, in Accenture’s announcement. “With Accenture’s support and alignment with our mission of combatting AI-generated fraud, we can work toward defeating the most advanced cyber threats of our time. Through our collaborative efforts, we will pave the way for a more secure and trustworthy digital landscape, ensuring a safer future for all.”

Illuminate General Partner Alexander Ross, who is joining Reality Defender’s board of directors, notes the growth of synthetic media attacks on financial institutions.

In the general announcement, Colman notes the spread of deepfake attacks not just within the financial sector but beyond it, to call centers and elsewhere.

“Reality Defender has swiftly established itself as the industry leader in deepfake detection,” says Ali Tamaseb, a general partner at DCVC and a member of Reality Defender’s board. “It offers vitally needed protection against emerging digital threats against enterprises, governments, and the world’s largest banks and financial institutions.”

Reality Defender introduced a tool for real-time video deepfake detection just last week, and won Most Innovative Company at RSA’s Innovation Sandbox competition in May.

Article Topics

Accenture  |  biometric liveness detection  |  biometrics  |  deepfake detection  |  financial services  |  investment  |  Reality Defender