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Checkstep Secures £ 3.95m Seeding Investment Led by Dawn Capital and Form Ventures – UK Technology Investment News

30 May 2022 – Passage of control, the British startup that provides Artificial Intelligence (AI) products for the moderation of contextual content to social media and business platforms, today announces that it has closed an initial round of $ 5 million, after a preliminary round of $ 1.8 million less than a year ago. The round was co-led by Dawn Capital, Europe’s largest B2B technology investor, and Form Ventures, a newly created fund focused on regulatory change, with the participation of GoCardLess founders, Indeed and Redbus Media Group.

As the amount of abuse on online platforms continues to grow, major questions are still unanswered, both ethical and technical, about how companies can best protect their users, especially with new regulations enacted around the world to seek to address the problem. Checkstep is setting the standard for the future of AI content moderation by developing state-of-the-art machine learning models and integrating best-of-breed third-party solutions to meet customer needs. Checkstep also allows human moderators to create safe online spaces, providing them with better support, tools, and smarter AI to deal with malicious content. It offers a best-in-class solution with a user-friendly interface, inspired by the experience of the Big Tech founding team. Checkstep is a layer of infrastructure that provides the essential building blocks that enable online platforms to develop trust and security operations tailored to their needs.

The latest round will be used to further develop Checkstep’s technology, expanding its capabilities so that it can continue to provide a one-stop shop to meet a platform’s trust and security needs. It will also fund sales and marketing to support the company’s brand awareness, increasing its efforts to drive sales and the next phase of growth.

“With Elon Musk’s acquisition of Twitter, getting content moderation right is not only a priority for the world’s democracies, but also a business imperative for any platform hosting user content,” he said. Guillaume Bouchard, CEO of Checkstep. “The problem was exacerbated by the pandemic as in-person interactions became mostly online. Today, every major world event is a new matter of moderation: the assault on the Capitol, the responses to George Floyd’s murder, the racist comments after the EuroCup, the war in Ukraine, etc. Despite a total addressable market of over $ 3 billion, existing technology is not enough to support needs. “

Checkstep was founded in May 2020 by CEO Guillaume Bouchard and CTO Jonathan Manfield to counter the spread of disinformation at the height of the COVID pandemic. The company has since expanded its focus to meet its customers’ other needs, covering a wider range of harms such as hate speech, child pornography (CSAM), bullying and spam. Recently, it has developed essential features to include copyright infringement management capabilities as well, as creative platforms are becoming more accountable.

One of the large customers of Checkstep’s online platform said:

“With existing and planned regulatory action in the area of ​​trust and security, Checkstep’s solution has enabled us to quickly scale a system that helps us identify the main vectors of abuse and address them quickly. The team’s experience is second to none and they have become highly reliable partners in our ongoing efforts to expand the application of the system to other surfaces. “

Checkstep is a prime example of technology being used for good, “he said Norman Fiore, General Partner of Dawn Capital. “As the regularity of malicious abuse on online platforms continues to grow, the ability to ethically moderate users and content is becoming increasingly important. We are seeing this increased scrutiny at the government level, with legislation such as the recent online security bill trying to address the issue head on. Checkstep provides a market leading all-in-one solution to this problem and we are thrilled to be able to support you at this important stage of its development.

The funding is also based on Checkstep’s strong momentum. The company recently hired a new Head of Product and Operations, Yu-Lan Scholliers, who joins Meta, and Head of Engineering Vincent Maurin, who brings extensive software development experience to the online advertising industry.

Checkstep was included in the UK Government 2021 analysis of the Safety Tech sector and has several high-profile platforms among its clients, including a large online platform that processes millions of user-uploaded videos, as well as a large Business Process Outsourcing (BPO) company that manages thousands of moderators on behalf of their online platforms.

Ben Greenstone, one of the world’s leading experts in Internet platform regulation, has deeply supported Checkstep’s move towards a compliant product.

With governments around the world pushing forward regulation for online content and platforms, there is a huge need for a reliable and scalable infrastructure of security and reliability. Checkstep is an answer to this need, in the UK, the EU and beyond. ” – Ben Greenstone, CEO, Taso Advisory.

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About Checkstep

Checkstep’s vision is a secure, reliable and inclusive internet for all. They believe this is achievable with their focus on AI-based online damage detection that reduces the need for human content moderation and allows online platforms to take control of their content. Checkstep is the first time offering a UK-based full service solution that ensures customers scale their efforts quickly. The company stands out for its recognition of the need for fair and impartial AI.

Founded by a team of internationally recognized entrepreneurs and researchers specializing in machine learning and natural language processing, Checkstep is also a member of the Safety Tech Innovation Network, the Online Safety Tech Industry Association (OSTIA), the industry for British organizations operating in the online security sector and The Association for UK Interactive Entertainment (Ukie), the largest trade association for the UK’s interactive gaming and entertainment industry.

About Dawn Capital

Dawn is the largest B2B software investor in Europe, with $ 1.5 billion in assets under management. Dawn collaborates with the founders who create the next generation of global software leaders, supporting them in harnessing extraordinary teams, exceptional technology and scalable business models to create global companies that define the category. Dawn is an early stage investor, supports Seed, Serie A and B companies and continues to fund top performers through growth rounds to exit. Its list of investments includes Mimecast (previously NASDAQ-listed, private of Permira in a $ 5.8 billion transaction), iZettle (sold to PayPal for $ 2.2 billion in cash), Tink (acquired by Visa for $ 2 , 0 billion), in addition to the current leaders, Collibra, Dataiku, Quantexa, Soldo, Copper and Firebolt, among others. Read more a dawncapital.com and follow us on Twitter and LinkedIn.

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Checkstep Secures £ 3.95m Seeding Investment Led by Dawn Capital and Form Ventures – UK Technology Investment News

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