Fakespot Series-A

This is the Fakespot pitch deck to raise a $4m series-a round in 2020.

About

Fakespot determines the trustworthiness of reviews using artificial intelligence.

E-commerce has taken off in 2020, but the shift to online spending has also led to a rise in fraud.

Marketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.

That’s where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart.

“There are promotional reviews written by humans and bot-generated reviews written by robots or review farms,” Fakespot founder and CEO Saoud Khalifah told Business Insider. “Our AI system has been built to detect both categories with very high accuracy.”

Fakespot’s AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.

The startup recently announced it closed a $4 million Series A, led by Bullpen Capital, with participation from Graph Ventures, Faith Capital Holdings, and accelerator 500 Startups. It’s raised $5.3 million to-date.

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